It has been said that nothing mankind has ever invented is as exasperating as the stock market. While I've been expecting the Transports to close at a new high, as I write today, they are actually down 19 points while Industrials are up 87. The record high close for industrials was 17138 and it now appears that the Industrials, not the Transports, will be first to record a new record high.
Question -- How have I written about the market since 1958 and kept my sanity? Answer-- It wasn't easy ... particularly for a person like me who tends to be impatient.
Turning to the annoying precious metals, gold is down 17 to 1278, but remains in its trading range of 1200-1400. Taking its lead from gold, silver is down 7 cents to 19.50. Friday has usually been a negative day for gold, therefore it would not surprise me if gold closed lower tomorrow.
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