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Monday, December 20, 2004

The Dow was up about 10 points today on OK volume for a Monday. Advance/declines were about even. We were a lot higher earlier though and could see some more weakness tomorrow. But I am not looking for a big decline or any huge market moves. It is a holiday week. Probably going sideways to nowhere. And that is going to kill my out of the money Intel calls. INTC was down 7 cents today but the calls lost value and are now in the red. So I am stuck holding these things until the New Year bounce I am anticipating. The only good thing is that there is an extra week on the January options and that might bail me out. But I should have dumped them last week when my order didn't get filled. I could have lowered the limit price and been done with it. We are still stuck on the 50 day moving average there. Gold didn't move much. The gold shares gained a little after being up earlier in the day. Volume was light as there is no interest there anymore. GE was up around 30 cents and continues to be a good play. The relative strength is high. I still have an open order for some more January calls and the calls I own are in the black. Pfizer was down around a buck fifty but I am steering clear of this for now. But it might be playable soon. But who knows? Summation index still pointing down. Would like to just get through this week without any major damage and then take it from there.

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