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Thursday, May 25, 2006

The post will be a bit early today due to my having to leave for work earlier than usual. We are up 80 points with 15 minutes to go. Volume looks a bit lighter than lately and the advance/declines are 3 to 1 positive. It couldn't stay down forever and I think now we will see higher prices in the future. We reached really oversold levels on some indicators. And the call/put ratio was the lowest I've seen it in years. That said I still think we'll go lower in the September/October timeframe. No trades here for now. Gold was up over $10 today. The XAU is up over 6 points at the moment. The volume isn't what it was. I think a longer base needs to be made here so no trades there for now either. I'll need to check the weekly charts. This too, got oversold but not as much as the Dow. A long weekend lies ahead so I wouldn't expect a lot of action tomorrow. Mentally I'm a bit tired as I did not get a lot of sleep last night. I'm trying to get back into the routine of doing what's necessary to be successful. The work never stops but that's what it takes. You've got to stick with it no matter what. I looking forward to the next trade and will do my best to make it a profitable one. The Dow now up 85 with minutes to go.

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