This blog will describe Jimmybees latest Market thoughts. It also will include thoughts on Jimmybees ongoing trading.
Thursday, January 29, 2015
Back to the upside today as the Dow gained 225 points on heavy volume. The advance/declines were 2 to 1 positive. I have the flu again and did not get out of bed to take advantage of picking up some SPY calls this morning. I did place an overnight order for the SPY calls but it was not filled. That fact that we held at around the 2000 level again in the S&P 500 leads me to believe that calls are in order. However if we were to drop below that level and stay there, I would change my mind. Perhaps there will a chance to buy some calls tomorrow. GE was up 1/4 and the volume was good. Gold fell $30 on the futures as the US dollar was only slightly higher. The gold shares held up batter as the XAU lost only 1 1/3, while GDX fell 1/3. It's possible that the gold long trade is over for now. Mentally I'm feeling OK, physically not so good. I'm going to cut things short today since I am ill. Bottom line, I'm looking for SPY February calls on weakness. I'm going to get some rest and we'll see how things go on the GDP report tomorrow morning.
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