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Friday, June 17, 2005

The Dow was up about 45 points today on heavy expiration volume. Advance/declines were almost 2 to 1 positive. We continue higher as expected but I wouldn't be surprised at a pullback now that the options have expired. We are overbought and may have a divergence on the McClellan oscillator. Gold was up another 2 bucks today and the XAU gained half a point. NEM made up another 30 cents or so. I did leave some money on the table but I did not think the overnight risk with one day left warranted holding on to it. It was a tough call but I think I did the right thing and would probably do the same thing again given similar circumstances. But for some reason I am never satisfied with the results unless they are perfect, which they never are. I am always trying to get better at the game. That's the way I am. I'm not going to beat myself up over this trade but... Could and should I have put more money into it? Yes, with proper risk safety nets. At the time of the beginning of the trade, I was just trying to get focused back into the game. Having just missed a couple of great opportunities the month before, I was just trying to take advantage of a perceived idea. My mixed up emotional state that had been hindering me for the previous months was beginning to fade. I was getting a better grip on that. But it hasn't completely gone away. I'm working on it. Perhaps I'll have more to say about that over the weekend.

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