Pageviews past week

Wednesday, November 17, 2004

It was an up day in the market today. The Dow gained over 60 points on heavy volume. Advance/declines were 2 to 1 positive. We were up twice as much at one point. Consumer inflation was higher than expected but it didn't seem to matter. That's the way it goes when the advance is strong. The news doesn't matter, it just keeps going up. Gold is the same way for now. It was up almost $5 today. The dollar continues to drop. The XAU was up over a point and a half. ABX was very strong on heavy volume. NEM was up but not as much as it could have been. The money continues to pour into ABX and I am kicking myself for not taking advantage of this situation. I don't know what is worse. Losing money or missing opportunities. I'm hoping today was a blow-off for ABX and that I'll be able to pick up some calls in the coming weeks. Way overbought and staying there, much like the overall stock market. GE was up a little today, at one point up a lot. Time for a rest there I presume and maybe a chance to get those March calls. Pfizer rallied today but I do want to wait there. It is frustrating not to participate in the gold advance. Especially when you lose money going the wrong way and you know the trend is up. But that's what happens when you suck as a trader. Controlling oneself is the key to profits. It can be done, you've just got to be good enough to do it. If not you lose money and eventually will be out of the game. The major trends are there to be taken advantage of. Try to remember that going forward...

No comments: