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Friday, December 26, 2014

And the beat goes on.  The Dow gained 23 points on very light volume.  The advance/declines were 2 to 1 positive.  The summation index continues higher.  Light volume, holiday mode thin trading.  You really can't make too much out of it.  GE fell a nickel again and the volume remains extremely light.  Gold found some buyers today as the futures rose over $20.  The US dollar was a bit higher as well.  The XAU added 1 7/8.  ABX, GG and NEM all had fractional gains on light volume.  Perhaps the expected beginning of the year buying in the gold shares is already taking place.  USO fell 1/4 and the volume was light.  I am considering the USO February calls for a bounce in the beginning of next year.  Mentally I'm feeling OK.  The major players are out of the game at the moment.  Some of them will return next week.  I don't think that things will really get going until January 5th.  I'm looking at getting some OEX January calls if there is some type of pullback.  Perhaps the GDX January calls but it may be too late there.  I'll be checking the charts out over the weekend.  It's Friday afternoon and time for a rest.

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