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Tuesday, July 12, 2005

The Dow dropped 5 points today on a slight increase in volume. Advance/declines were positive. Lots of data out tomorrow so we will see what is focused on. Gold was down a bit the XAU was basically flat. I did something stupid today though. I entered an ABX trade. With 3 days left. I don't know what I was thinking. I wasn't, I guess because I already know that this trade probably won't work. I'm long some calls that expire on Friday. I wanted to cancel the order when I finally came to my senses but it was too late. So there you have it. You always have to guard against yourself. Even if this thing works, which it won't, the risk isn't worth the reward. It won't be a big enough winner to justify the trade. I only threw a few hundred at it but it is not a good habit to get into and I definitely made a blunder. There will be better opportunities down the road and that's that. Sometimes I'm an idiot and this is one of those times. Mentally I feel like a fool and I can't have that happen. I need to get it together already. It just can't go on like this.

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