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Tuesday, April 05, 2005

The Dow gained around 35 points today on lighter than lately volume. Advance/declines were slightly positive again. It was another day of no news or catalyst to get this thing going one way or another. GE gained back what it lost yesterday but there is still no bid on the April options. It looks like that's the way it will be until expiration. Gold was up a touch and the dollar was a bit weaker. The gold shares were up slightly but there was no volume. We got a little pop at the end but it was a nothing day there as well. It looks like it is a year of sideways action into the tax deadline, which I have seen before but did not expect it this year. That is to my detriment as I will lose money because of this. There isn't much to write about in times like these. It's almost summer doldrums like. Oil was down today and that helped but it is a directionless affair. The best position here would actually be cash. Sometimes the sidelines are the place to be and this looks like one of those times. Writing options would also work in this sideways environment. Patience is something that is needed in the game at this time.

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