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Wednesday, March 14, 2007

The Dow rocked and rolled today. We were down over 125 at one point but came roaring back to finish up 57. Advance/declines were positive and volume was extremely heavy again. The OEX bounced where it was supposed to and the markets are moving fast. Inflation data out the next couple of days. I might try the puts if we get some strength in the OEX tomorrow. We'll see. Risk is high but the movement implies profit opportunities. Gold was down over $7 today but the XAU rose a little over a point. I almost bought some more ABX calls but I didn't. ABX finished up a touch with good volume. The calls I've got are under water. I'm thinking that if they come back I might just get out. April sometimes tends to be a sideways affair. With the recent market action I don't think we will get any decent trend going for a while. I could be wrong though. Mentally I'm feeling better with a good nights sleep. I'm looking to do something before the close on Friday and I'm prepared for the outcome one way or the other. Volatility has returned for now.

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