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Friday, October 21, 2005

The Dow lost another 65 points today on heavy volume. Advance/declines were almost 2 to 1 positive though. Perhaps the move was expiration related. GE was down a few cents and the options I own are losing money. The are now cheap enough that I have the inclination to buy a few more. Could be a good move if we hold here and rally. Or it could be stupid. I don't think that I've done well in GE this year. I'll have to check the charts and the records. Gold bounced over 6 dollars today and the XAU was up almost 3 points. So far the trend line is holding. My calls there are profitable and there is plenty of time to go. The technicals are oversold too so this could turn out to be a decent trade. Or not. I get the feeling that a base will need to be built here and that could take a while. But I think that over time, as long as the uptrend line holds, this will be a winner. Physically I'm tired as I did not get a lot of sleep last night. That is affecting me mentally as my mind is groggy. Luckily there was not much thought for todays session on my part. I'm glad the weekend is here, I need to rest...

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