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Wednesday, June 08, 2005

The Dow lost 6 points today on light volume. Advance/declines were negative. It seems like we are in a drift. I would like to try something before expiration though. Greenspan tomorrow and then the trade number. Gold was up a touch today. The XAU opened higher and was up over a point early but the volume was light. It ended up down a quarter as there really was no interest. I'm thinking of getting some calls before the trade number but I am really not sure it will work. If I do it, it won't be a lot of money. That is for sure. GE was higher and then got weaker also. I'm staying away. We are at a point here where I think which ever way it moves near term will not hold and there will be a reversal before expiration. That is the feel I get from the indicators. I could be wrong and perhaps the prudent thing to do will be to stay out. I can't force it and there is no reason to. Discipline and patience have their rewards sometimes also. Anyway we'll see what happens tomorrow and if I do anything here.

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