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Monday, August 08, 2005

This lame site never posted my Friday blog. I bought some more NEM calls on Friday as it fell again. Not sure if that was such a great idea. Today the Dow lost over 20 points on average volume. Advance/declines were negative. The Fed meets tomorrow and that should be interesting. Gold lost a couple bucks and the XAU fell about a point. NEM was down and this is getting the feel of a loser. I am also over-leveraged to compound the situation. Anything can happen but it looks like maybe the breakout won't work. It had a the right factors going for it though. But so did the last trade that didn't work. That is just what makes this the most frustrating and difficult thing to do. I suppose I can look to cut the loss here now. Perhaps tomorrows Fed will bring some support to gold but who knows? Maybe I should just take the rest of the summer off. I don't think NEM will be coming back at this point. We'll see.

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