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Wednesday, December 15, 2004

This blog site is getting slower every day. The Dow was up 15 points on pretty good volume. Advance/declines were about 2 to 1 positive. The summation Index is turning back to the upside. We are overbought here though. I'm looking for some downside but hopefully not alot. GE went nowhere today. Intel was down a few cents and I'm worried about this trade. I'm thinking of just getting out while I can without a loss. However the technicals are oversold and I'm thinking it will bounce here before too long. Don't know. Gold was up around $4 but the XAU did not even gain a point. ABX and NEM were higher but on light volume. I'm on the sidelines there. Pfizer rallied to the 50 day moving average line, up a dollar. Looks like I may have missed out on this one. The tax selling I was anticipating may not come to pass. I'll keep an eye on it but it isn't looking good after today. The dollar was weaker but it isn't a headline factor for now. I'm looking for it to rise to the breakout point and then I will get long gold. I'm looking for some type of pullback in the overall market here. Then purchase some more calls on the OEX and selected issues. The game is hard and played for real by others with more savvy than me. This is known. However my skills are on the improve. I am learning more about myself. I am a successful trader for the year and not all can claim that. I will have an even better year in 2005 if I continue to pay attention. The game is interesting, time consuming and involves a lot of hard work. Not all are up to the challenge. But I am and will continue to be. I enjoy the game...

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