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Wednesday, November 30, 2005

The Dow slumped today, losing 82 points. Volume was average and the advance/declines were slightly negative. The market just could not get going anywhere but down. I bought some OEX calls. Could have gotten a better price but what else is new? I was surprised that they held up as well as they did because obviously I'm early. But I think it will work and I'll be waiting for Friday and the unemployment report. Getting short term oversold but not exactly there yet. We'll see what happens. I was so focused on this OEX trade I did not notice GE until the close and it was down. Might do something there too but I don't want to go crazy. Like I said before, sometimes December is pretty bad too. Gold lost some ground today and the XAU was down over 2 and a half points. I'm still looking at the Januarys but that is a long way off from here. I need to check the charts again on that. I'm thinking today could have been some end of the month lock-in the profit mode. Not sure. Still feeling as if money will come in to support the upside. We'll see. Mentally I'm doing fine, not trying to second guess my entry as of yet. But I still feel like I could have done better. Over two weeks left in this option cycle and anything can happen. But I can't expect things to be like last month can I? Perhaps we will re-challenge the highs on lower technicals. That's what I'm thinking...

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