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Thursday, October 12, 2006

The Dow was up 95 points on good volume. Advance/declines were over 3 to 1 positive. I lost on the puts again and got stopped out. It was a dumb trade. I already knew it yesterday. It was a trade for the sake of trading. It lost about 35%. I guess I need to step back and take a break. I haven't had a winning trade in months. It's as if I'm starting out all over again. Last years good profits are like they never happened. I'm in a bad way. Nothing I'm doing is working and I am either wrong or missing something. This market is on a momentum feed and nothing will stop it at this point. The money just keeps going in on the upside. I've seen it before but I did not expect it now. There is nothing to do but watch and wait at this point. Gold was up a few bucks and the XAU rose over 3 points. I'd like to get some ABX calls but may have missed out here too. I was also thinking about some GE puts with the earnings coming out tomorrow. But when I'm in such a funk as I am now, it's probably better if I just sit it out. Mentally I'm in a bad way. I'm losing money, have had my worst month ever and don't have a clue. It's not a good place to be. I must somehow persevere in this negative environment. I have got to somehow snap out of it. We'll see what happens...

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