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Tuesday, November 02, 2004

Election Day. We had a one day reversal. Opened higher and closed lower. Volume was heavy. Advance/declines were positive. Still overbought and I would expect some weakness in the next couple of days. But I believe the trend is up here. Still holding the long term GE calls. Canceled the Pfizer open order. Perhaps if the price comes down, I'll try again. Just missed it last monday. Gold went down big today, around $7. I'm not sure why. The dollar was up but not by much. NEM was down over a buck and ABX lost 50 cents. The ABX options I have are over 100% profitable. I've got a limit order in to sell them. A short term uptrend line on the XAU was broken today. I should be out of these options within a week. But you never know. I'm still a longer term bull for gold shares. I guess we'll see who wins the election and take it from there. If there is no clear winner after today, I would expect a sell-off tomorrow. Busy day for sure and it doesn't get any easier. Employment numbers on friday. You gotta love the game though.

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