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Wednesday, December 28, 2005

The Dow was up 18 points on light volume. Advance/declines were almost 2 to 1 positive. GE was down early and ended up basically unchanged. My GTC order for calls was filled. I don't know if I'm glad or sad. I suppose I still want to do this trade but I'm skeptical at this point. We have moved sideways for so long I don't know what to think. It is right at the uptrend line though so if ever there was a time to try this trade, now is it. We'll see what happens. Gold was up around $7 and the XAU broke out to a new high. NEM rallied also. Perhaps I should have kept a better eye on this for this is where the volume is. But it could just be an end of the year thing with managers wanting some gold shares in their portfolio. That's a guess. The XAU is higher now than when gold touched $540. I think it's a positive for the XAU. Time will tell on that also. I think we are approaching oversold here on the overall market and hopefully GE will rise along with it. Nothing is for sure in this game though. Mentally I'm OK but would like to get a bit more sleep. I've been getting up earlier than I used to. Don't know why. We should limp along to the end of this holiday week here I believe. But with the volume so light, anything can happen.

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