Thursday, December 28, 2017
Stocks climbed in the final half hour and that led the Dow to a gain of 63 points on very light volume. The advance/declines were almost 2 to 1 positive. The summation index is moving up. It was another record close for the Dow in the quest for 25000. We should get there next week to start off the new year. Nothing has changed technically speaking. We're still overbought and staying that way. GE lost a couple cents and the volume remains heavy. I adjusted my open order for the January calls here. I'll pay more for them if it gets filled but I'll also be buying less contracts. If this doesn't get filled tomorrow, that may be it for this idea. Gold was up $5 as the US dollar continues to drop. I'm not sure that I can trust what is happening in these two markets considering the lack of players at their desks. The XAU and GDX had very slight fractional gains on extremely light volume. Mentally I'm feeling OK. We'll finish out the trading year tomorrow. I finished with a small loss. I'll calculate the numbers tonight and give a final report tomorrow. Attempting to ladder up the SPY puts in October was my biggest blunder. I did have some nice winners along the way during the year as well though. Moving the trading office in the autumn was more of a hassle than I expected. None of this matters going forward. I am now looking at the SPY January calls as well but it may be too late for that. We'll see what happens with GE tomorrow. Asia was mixed and Europe lower in last nights trade. We'll close out the week and the year on Friday.
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