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Tuesday, January 31, 2006

The Dow lost 35 points today on good volume. Advance/declines were positive though. I'm getting mixed signals. Might have missed the opportunity to get short. I think that may be true as we are selling off in the aftermarket due to Google. I will have to wait for something solid if I'm smart about it. No guarantees there. Gold was down a bit but the XAU was up over 4 points. I think it was some end of month shenanigans. Might want to short it here but it is a freight train and it would be stupid to try. That said, a pause or correction is overdue and the technicals are all overbought. There is no rush to trade here. Mentally I'm a bit tired today and that isn't good for trading. Not much I can do about it though. Trying to remain positive about what I'm doing but that doesn't always work either. So for now it's a wait and see game. I would like to get short but who knows? Beginning of the month money flows should appear. If we can get higher here the next couple of days, I'll look for some puts. If not I guess I'll wait for a buy signal. Sometimes February isn't a good month and sets up for the rally into March expiration. We'll see.

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