Thursday, August 17, 2006


Well that wasn't down but it wasn't exactly a resounding up day either. The VIX still stays way under its 10 day average the DIA finished the last hour red but the Q's and the SPY finished with strong white candles. A perfect way to go into expiration day - confused. The up/down ratio is a benign 49% and the new 20 day high vs low sits at 994 to 174 - still not very much out there to buy.

Gold resolved its problem and fell off the edge of the earth. And now it appears to be way, way oversold. In anticipation of a new run I took a smallish position in BGO which I am still holding. I will probably hold it over the weekend and sell on Monday.

Trading wise I took a position in HOV and broke even on the trade (including commission) and made a little on AMD.

Not a great day since I had to attend a funeral this afternoon. An old friend simply ran out of time but he was around for a bit. He made the landing at D-Day, fathered 9 children, and stayed married to the same woman for over 60 years. And I doubt he owned a share of stock in his entire life. Bless him - he will be missed.

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