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Wednesday, January 05, 2005

Down again. This market is in trouble. Another 30 points on the Dow with good volume. Advance/declines over 2 to 1 negative. I do not know what is going on here but it isn't good. Closed on the low of the day. There should be a bounce. If it doesn't happen, oh boy. GE was down, my calls are losers. I should get out on a bounce. If there is no bounce, it doesn't matter. We are at the 50 day moving average. If it doesn't hold then losses will pile up. My scenario was wrong. I'm paying the price. Summation index pouring down now. Everything down again. Market tried to rise today and could not. XAU was down again but the shares were mixed. Intel kept dropping. I've got short term oversold signals but nothing is happening. Trouble. I should probably just bail out of everything and get on the sidelines. But I am waiting for a bounce. It usually happens at this stage. Troubling times.

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