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Tuesday, May 31, 2005

Back to work Tuesday with a loss of 75 points on the Dow. However the volume was light and the advance/declines were actually positive. I think it was end of month profit taking. Of course I don't know for sure but it sure seems that way. GE was down an touch and looking at those charts doesn't do much for a trade there. The dollar rallied strongly but gold didn't move much. In fact the XAU sold off hard early and then came all the way back. Something is happening here but I just can't put my finger on it. Gold should have gotten killed today but it didn't happen. It is puzzling. I have missed this move in the XAU but the volume is there and I suppose I'll be looking to get long on any decent pullback. We'll see. I'm not so sure about the OEX but I'm leaning to the long side. It's a tricky call one way or the other. I really don't have anything decent on my radar screen. Perhaps the best course of action will be to remain on the sidelines until I can get my head together. It's coming around but I still don't like the outcome. However I at least have to be honest with myself. I didn't expect anything like what has happened with me mentally lately. It just sorta came out of nowhere. I'm dealing with it but it will probably take some more time. It can't be helped. It just goes to show you that you never know what to expect. More tomorrow.

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