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Thursday, September 22, 2005

The Dow gained 44 points today on heavy volume again. Advance/declines were negative though and new lows have just overtaken new highs. Not a good sign going forward but I bought some GE October calls today. Why? I think we are getting oversold here both short and intermediate term. My indicators show that at least some type of bounce is due about now. I haven't risked a lot of money here and I really want to go out to November. But maybe I bought too many as the commission cost is over 10% of the trade capital. We'll see what happens. Could be wrong and wouldn't surprise me if it was. But again, we'll see. Gold lost a couple bucks and the XAU was down a point. NEM held in there pretty good and there seems to be people to buy the gold shares when they fall. Might have a flag forming on the daily chart implying higher prices. Or it is building a minor top. Don't know. I still wanna get long there if we go sideways for a while. Mentally I'm concentrating more but need to be a little more calm during the trading day. Habit and routine are coming back but not where I want them yet. Working on it.

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