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Monday, December 13, 2004

The market is up 85 points with an hour to go. I am posting early due to playing 9 holes of golf after the market closes. Advance/declines are solidly positive right now but the volume seems lighter than usual. Gold was up $5 today but the gold stocks aren't doing much right now, XAU up around a point and a half. I think a longer bottom needs to be in place here. GE is still rallying, up another 75 cents at the moment. The calls are looking good. INTC isn't moving and the options are losing some time premium. Looks like a loser but it does have some time left. Pfizer announced a dividend hike, it's up a little. Waiting on the January calls there. Fed tomorrow and I think we will see some downside at some point this week due to a now overbought condition coming upon us. Summation index trying to turn but it would be better for January if it kept going down. We'll see how we close...

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