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Wednesday, February 28, 2007

The Dow came back up 52 points today. Advance/declines were positive and the volume was the 2nd most ever if not the 1st. All that volume and all we could manage was 52 points. I think we will need to test the low of yesterday at least. Interesting times but tough to trade at this point. I did want to get some OEX calls but the options didn't move much today. Gold was down around $15 but the XAU came back over 2 points. Volume was heavy and ABX did not participate to the upside. So there are crosscurrents there at the moment. I think if I do something there it will be going out to April. But we'll see. Mentally I'm doing fine. I've seen bigger one day declines then yesterday. They're usually buying opportunities but I want to wait this out for a while I think. No trades at the moment but of course I'll be looking.

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