Wednesday, December 24, 2014
The market closed early today as we are in holiday mode. The Dow rose 6 points although we were much higher for most of the session. The advance/declines were about even. Volume was extremely low. The summation index continues to the upside. Thinly traded and not much to make of things here. GE was off a nickel and the volume was very light. Gold lost a few bucks on the futures and the US dollar was a bit lower as well. The XAU gained 1 3/4 though. Perhaps the gold shares are already seeing some buyers at depressed levels. But the volume was extremely light. ABX, GG and NEM had fractional gains. GDX was up almost 1/2. I'm still considering the calls here for the beginning of the new year. USO fell 1/2 and is still moving sideways for now. Mentally I'm feeling OK. You can't make much of the market action at this time of the year. The major players are home for the holidays. I have some trading ideas but acting on them won't occur until next week. It's time to be patient and relax for a change. Merry Christmas and Happy Holidays to all.
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