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Tuesday, June 07, 2005

Did not get back here on Monday as I was playing golf. The market didn't do much and the Dow was up around 5 points. Summertime already? Not quite. Today the Dow gained a little over 15 points but was up over 100 at one point. Advance/declines were positive as they were yesterday. Volume perked up a little today compared to recent activity. Todays action suggests a pullback is at hand. It wasn't good to see the gains diminish. Perhaps this will give me a shot at getting some calls before expiration. We will have to see how it sets up. I haven't gotten any real good signals lately. Perhaps that is about to change. Gold shares have begun to fall back again on good volume. I will look at the ABX July calls again and buy some if the price is right. The dollar rally seems to have stalled here but the dynamics of the dollar and gold have changed recently so I need to be careful. Almost bought some GE calls again but have held off until now. The weekly chart on GE doesn't suggest a lot of upside here. I'm trying to be patient. I do not want to get caught in some chop, as the market just may end up spinning its wheels here. Greenspan is speaking on Thursday night, just ahead of the trade number. So things are about to get interesting. Whether or not I have what it takes to take advantage of it is another story. Mentally I'm fine and back where I need to be. Nothing has been resolved as of yet but I am learning how to deal with what's going on and I feel everything will work out for the best. I am trying to remember that the market has to be in focus and just because things are happening outside of here doesn't mean I can't keep up with my work. Perhaps I am using outside influences as an excuse for why I have missed the latest opportunities. That is possible. I realize that the discipline and commitment required to be successful is necessary and I am trying my best to keep it. That doesn't mean that there won't be times when I stray from what's needed. But I must pay attention and keep at it. The work doesn't stop, the markets don't wait and if you want to be in the game you had better grow up fast. I'm learning...

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