The Daily Dose of Trading Comments

Here you'll find short quips concerning the market mood and direction posted intra-day as the market dictates and time allows. You can find TATs strategy here. Comments here are from a trader who trades for a living.

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Monday, December 19, 2005

Gold unable to get the bounce trading going

So far it has been unable to clear the 512.4 area basis the Feb contract. As a result, I booked my gains in all but NEM and TRE taking a partial bounce. Don't mean that it can't come on again, but on a bounce trades you don't look a gift horse in the mouth. I'll let NEM be as long as it holds $50 and TRE is a longer term play.

I've made a few adds this morning, have a couple more orders in as well and shorted BMHC which is an accident waiting to happen (it's volatile though given the low volume). The general market is marking time for the most part and I'm doing the same. Nothing big. A little here and a little there. Still think that you have to think of this market as two sided for now.

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