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Monday, December 27, 2004

It's a holiday week and the volume was light. The Dow lost 50 points and the advance/declines were almost 2 to 1 negative. It's not a surprise as I am looking for some downside here. I don't think it will last long but it should carry over to tomorrow. My open order for GE calls was partially filled. I hate that. Either fill it or not because now it's in limbo. The rest of it should get filled tomorrow but as you know, there are no guarantees in this business. GE was down around 20 cents as was INTC. The Intel calls are in the red again. No volume though so I am not all that worried but I'm not pleased either. I should have just bailed out of this Intel trade a while ago. I really don't know much about the tech biz. I am going to wait for the rally I expect at the beginning of the year but it could be too late by then. Gold was up around 3 bucks but the XAU did not rally much. ABX and NEM were up slightly on light volume. Dollar hitting new lows. I don't know how much you can read into the trading this week with very thin markets. I am sticking to my scenario until proven otherwise. Rally at the beginning of January, taking advantage of it with GE calls. I'll get some OEX calls if we keep dropping this week. Pfizer was up again today. No plans there but ya never know. We'll see if the rest of that GE trade can get filled tomorrow. I also added another trade at a lower price for the same calls. We'll see...

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