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Friday, September 22, 2006

The Dow lost 25 points today. Volume dried up, it was light. Advance/declines were negative. It was a lackluster day. Nobody really wanted to buy or sell. The puts I own are still losing money. I would like to sell them but don't really want to book the loss and try again. The weekly chart looks like it is about to roll over. If it does than the puts will work. But there are a lot of ifs. Light volume is never a good sign but we really haven't gotten the down move that I have expected or traded for. We'll see what happens next week. Gold was up $7 and the XAU did not move with it. I suppose I'll have to stay away from there for now. Back to the puts on the OEX. There are 4 weeks left on them. The entry was wrong. Perhaps time will bail me out, who knows? The summation index has yet to give a firm sell signal and that's a problem too. I anticipated a move and I was wrong. I'm going to have to think things over the weekend. Mentally I am not feeling well. I've been a bit ill lately. I don't know why. Trading is difficult. It is time consuming. It is the toughest game in the world. You have to be up to the challenge. The skills required for success are enormous. There are no shortcuts and there are no excuses.

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