Tuesday, November 28, 2017
Rally mode and huge as the Dow gained 255 points on average volume. The advance/declines were 2 to 1 positive. The summation index is heading up. Money is still pouring into stocks. Is it because of renewed hope for a tax plan? Bitcoin? Who knows? We do know that there is no overhead resistance. The short term technical indicators are extended to the upside but that hasn't matters for a while. We just had a consolidation and now we're in the breakout. With the summation index turning around the trend is up for the foreseeable future. GE was up over 1/4 on good volume. I still have the open order out for the January calls here. We'll need to see some pullback in order for this trade to be filled. I do still like the idea. Gold and the US dollar finished flat today. The XAU and GDX both had slight fractional losses on light volume. Mentally I'm really feeling tired after this move of the trading office. It is really a hassle that you don't want to contend with. It's supposed to be an upgrade but we'll see how it plays out. The trading in itself is quite a chore. Throw in some outside obstacles and distractions to make the job that much harder. I'll simply just stick to the GE January call trade attempt for now. I'm really very tired and will probably feel that way all week. Hopefully things will get somewhat back to normal next week. Asia looked rather flat but Europe rallied last night. We'll see if we get some follow through to todays stellar gains in the US tomorrow.
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