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Monday, November 15, 2004

A treading water kind of day with the Dow up 11 points. Volume was monday light and the advance/declines were positive. Got to figure a pullback is near. Option expiration week so anything can happen. I have some ideas but no solid plays. Gold was off a buck and the XAU down 1 1/2. Both ABX and NEM were down. I'm still thinking the divergences are there for a drop but we all know how poorly I've traded gold lately. GE was down a little but not enough to get some calls for this week. I'm still holding the Januarys and looking to go March. Pfizer was up today but no play there yet. Looks like I could be on the sidelines all week. Hope not. Next week is a holiday week. So I'll be just hanging around for that week most likely. I see the dollar was up a little today and perhaps a short covering rally is due. Don't know though. Not much else to say here except the patience and discipline mantra. I'm still learning...

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