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Monday, October 24, 2005

The Dow blasted off up 170 points today. The volume wasn't all that great but it was a Monday. Advance/declines were over 3 to 1 positive. The McClellan oscillator should be moving into positive territory today. I think the decline is over but I don't expect a straight up move from here. I do think we will rally once the Fed meeting gets out of the way. GE was up a little but my options are still under water. Plenty of time to go but I don't know. Gold was down a couple bucks but the XAU remained strong and was up a couple points. Those calls are in the black. Perhaps should have sold them here because we are short term overbought. But I'm waiting for higher prices and I think that will happen in the next 4 weeks. I could be wrong though and there-in lies the problem with trading. Ya just never know. I'm not feeling well physically so I am cutting this short today. Mentally I'm doing as good as can be expected at this point.

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