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Friday, October 28, 2005

The Dow reversed course again and was up over 170 points on good volume. Advance/declines were almost 3 to 1 positive. This thing just keeps going back and forth. It will break out eventually and I'm thinking it will be to the upside. At least that's what I'm thinking today. GE got back a little today but the options I own are still losers. 3 weeks left and I think that this will be close. I probably need to get out when I can. I was early and haven't traded GE well all year. Gold was down a couple bucks, the XAU fell but then came back and was higher on the day. That is a good sign. The calls I own are still in the black. But anything can happen and we are close to the uptrend line. If that breaks then this trade is dead. But it is holding for now and that was the basis for this trade so I am holding for now. Anything can happen. I feel rested for a change and the weekend is here. I am taking part of Monday off to head up to the mountains and clear my head out. Mentally I need a break and will do some work tonight and then just call it quits for a few days. My discipline needs work and I have to get back to consistent reading of the blue book. These things must be done for success. It doesn't just happen. You've got to make it happen. I'm working on it...

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