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Monday, January 30, 2006

The Dow was off 7 points today while the overall market rose a bit. Volume was average and the advance/declines were slightly negative. I would like to get short somewhere in here but I don't know if the market will accommodate me. We are overbought and a negative day will arrive this week. I would like to wait for Wednesday but who knows. Fed announcement tomorrow. End of month also. If we can go sideways into the 1st of the month, I can do it. Not a super strong sell signal yet but I think it can be. I'm going to be patient though. Lot's of time left for these options. I have an upper target in mind and when we get there I will have to think long and hard about it. Gold went to new highs today and I'm just here watching it. I do want to short it a t some point but cannot step in front of it now. Mentally, I think I'm ready for the next trade and will try and do the right things. I'd like to make it a good one. I'm getting plenty of rest and am not feeling too bad. I do have a dentist appointment later in the week but I should have a position by then. We'll see. I need to read the blue book and get ready. The time seems to be near and I have to be ready for it...

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