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Thursday, October 06, 2005

The Dow lost 30 points today on heavy volume. Advance/declines were 2 to 1 negative. We were down 100 points and bounced back in the last half hour. Oversold here but the action has been so negative I'm afraid to get long. Still might do it tomorrow on any weakness. Employment report early. GE had a positive announcement and was up 80 cents on heavy volume. There is a bid for my options again. Perhaps missed out on the November calls as my order wasn't filled yesterday. Wasn't sure on that one. Gold was up over $5 and the XAU rose over 3 points, gaining back what it lost yesterday. My options are still showing a profit but this could backfire. Tomorrow will be important. Might just have to get out. I need to make some decisions. Volatility has returned and this used to be when I was at my best. Perhaps missed a chance to get long the OEX today but we'll see. Gotta believe that I can do the right thing. Hope to tomorrow. Mentally I'm fine for now. But need to read the signs. Might have missed my chance with the XAU profit. Probably have to be up for the open tomorrow and take it from there. Could be a long day. Must be mentally prepared. Ideas seem to be working. Need to check the McClellan oscillator tonight. Might not confirm the buy signal. Tough game.

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