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Friday, May 06, 2005

The Dow gained 5 points on light volume. Advance/declines were negative. I think we are due for a pause. If so, it will give me a shot at some OEX calls. The employment number was stronger than expected. The dollar rose and gold fell. But the XAU hardly moved by the days end. The gold shares sold off early and then made it all the way back. I'm not sure what this is saying. Volume was light there also. Perhaps we are sold out there but I do not know. GE said it would restate its earnings for the past couple of years to the plus side and it could not get going. There are still 2 weeks on the May options. I might get a chance at some type of trade in the next 2 weeks. I have an idea about what to do but doing it is another matter. The weekend is upon us. It will be time to catch up on the charts. Really need to make a good trade here for the confidence factor alone. It is all important. For how you feel about yourself and your ability is what will carry you in this crazy game. My trading has been terrible lately, so a winner is really needed. But you can't force it and you can't wish it will happen. You've got to make it happen. The only way that will occur is with discipline and patience. Will I be up to the challenge? Time will tell. The markets never cooperate with the best laid plans. Tough game...

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