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Thursday, November 17, 2005

The Dow rose 45 points today on OK volume. Advance/declines were almost 3 to 1 positive. Almost at a breakout but the volume isn't great. One day left on the options. GE actually got a nickel bid at the end of the day as the market rallied. I'm hoping, which is stupid, that tomorrow morning is to the upside and I will sell at whatever I can. The OEX rose 4 points and the calls I bought are in the black. That could all change tomorrow at the opening. The risk is crazy and so is the trade but I went with my gut. We'll see. Gold was up another $7 dollars which is incredible. The XAU only rose a point and a half but the volume was good. I really blew that one. Hard to have confidence with trades like that. So we'll see what tomorrow brings. The market is overbought and staying there. There could be some expiration shenanigans. Anything could happen. I'm hoping for a squeeze and a breakout to the upside. If that happens tomorrows blog will be on a happy note. If it doesn't, more of the same. My ideas have been good but my tactics and timing have been horrible. Mentally, I'm about spent but I will do what it takes tomorrow to insure success, if it's possible...

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