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Tuesday, May 10, 2005

The Dow lost a little over 100 points today on hedge fund rumors. Supposedly some funds are in trouble due to the GM debt downgrade of last week. Remains to be seen. Volume was light and the advance/declines were over 2 to 1 negative. Trade data tomorrow. I'm still leaning to buying calls but would like to wait for Thursday or Friday. At least that is the thought right now. Gold didn't move much but the XAU was down almost 2 points on better volume than lately. Hedge fund capital raising? Who knows? I'm thinking that the trade number will be better than expected and gold will fall as the dollar rises tomorrow. Again, just another guess. No real reason to dump the gold shares today. The dollar was just a little weaker today. So we now have 8 days until expiration. There will be some profitable plays here, I just hope I can get in on one of them. It won't be easy. It never is. This is a crazy, crazy game. I'll try to keep it together and take my best shot.

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