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Monday, December 05, 2005

Early post today as I am leaving right at the market close. 45 minutes to go and we are off over 50 points. Advance/declines are almost 2 to 1 negative. I expected some weakness here early in the week and we are getting it. Unfortunately I think it could last until the close Wednesday and the OEX calls I purchased are already back to breakeven. I will try not to buy more even if they get cheaper. GE is higher today and I have an order for some calls there but I don't think it will get hit. Could bode well for the overall market but who knows. Might try to get them in the next couple days if they pull back a bit. Or not. Gold is up around $4 but the XAU isn't doing much. This is usually a negative sign. I need to wait here as we are just about as overbought as it gets. We'll see. Not feeling good about getting long right here for gold. Mentally I''m doing fine after a nice weekend and I will attempt to clear out my head some more today after the close. But the game looms large and I would like to end the year on a positive note. That said I do want to remain disciplined into the end of the year. It's not going to be easy but nothing is in this crazy game....

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