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Tuesday, May 17, 2005

The Dow up another 80 points on about 2 to 1 positive advance/declines. What can I say? Volume was a little light but the upside continues. The calls I sold on Friday are now actually in the black. Hindsight is not easy. But I can't get down on myself for doing what I did at the time. At least my ideas are starting to have some merit again. I hate missing out on opportunity though. It reminds you of just how tough this game really is. Gold was up today and so were the gold shares even though the dollar rallied at the end of the day. I needed to be quicker on that yesterday too. Probably just a bounce but I will be looking to get long on weakness. It was blown out to the downside and I would like to see a better base before committing funds. Could have had a double there if my orders would have been filled yesterday. Frustrating at times but that is the nature of the beast. Still 3 days before expiration and I think it will run up until the end. About to reach the 50-day moving average so that will be key as to how high we go. If it busts through there we will be going much higher in no time. So I'm just waiting for something else to present itself as my confidence is returning.

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