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Friday, November 03, 2006

The Dow was down 32 points today on average volume. Advance/declines were slightly negative. Down 6 days in a row on the Dow now. Who would of thought? The employment report was in line with expectations. Bonds dropped. We are really oversold here. I bought some OEX calls for a bounce. I am getting a signal to buy. The stop-loss order is in. I feel that this will be a winner but I don't think it will be a big one. However I have to act on the signals that I get or it is all just for naught. I would like to get short again after a bounce. Will it bounce? I believe so. Gold was up another buck today after selling off early. You just can't keep this market down. There seems to be a shift back into gold in a big way here. I will try and get long if there ever is a pullback. Longer term this looks like a trade to be in. I might possibly go out to January. We'll see. NEM seems to be acting better than ABX here. The volume has been pretty good into these issues. But perhaps it is too late in the short term. Mentally I'm doing as good as can be expected. It is the weekend but I have been busy outside of the markets lately which makes it tough to concentrate on what needs to be done. It is extremely difficult sometimes to keep things separate but it must be done. I am going to try and relax over the weekend and come back fresh on Monday.

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