Friday, May 14, 2010

Wrong and wronger

Well Tuesday I though the market would be down and it was up. Today I thought it would be up and it was down. Sometimes you just can't win (though my play in AA was up 0.34 today). Apparently, the 10,900 level is harder to push through than I thought. But I'm going to stick to my guns and call for a move higher tomorrow, if for no other reason than that we haven't been down more than one day in a row for a week now. Asia is down right now but the US futures are up.

Another thing I'm watching closely right now is gold. My favorite gold play, AUY, topped yesterday and is now headed back down. The daily stochastic and RSI are at levels consistent with previous peaks in AUY. I'm expecting it to be back to buyable levels by the middle of next week.

No comments:

Post a Comment

Due to some people who just won't honor my request not to post spam on my blog, I have had to re-enable comment moderation. Comments may take up to 24 hour to appear, depending on when they're made. Sorry about that.