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Friday, August 05, 2005

The Dow lost over 50 points on OK volume. The overall market fared much worse. Advance/declines were 3 to 1 negative. The summation index is flashing a sell signal as it is now solidly pointing down. Gold was little moved and the XAU lost about a point. I purchased more NEM calls on this pullback. I may have bought too many but I am a believer in the breakout. The volume supports it. But you never know for sure and I will be keeping a close eye on it. 2 weeks to go. The calls purchased today stayed unchanged but the previous purchase is showing a loss. I'll check things over the weekend and get back at it on monday. Mentally I'm doing fine and regaining the lost focus of the past few months. Discipline must return to be successful in the game. I really need to do my homework and concentrate on this trade for now. It just has to be done. But for now it's time for the weekend break...

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