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Wednesday, April 18, 2007

The Dow was up 30 points today on average volume. Advance/declines were negative. I did not do any trades today but perhaps I will buy some puts tomorrow. We are overbought. The overall market has been weaker the past 2 days. There are only 2 days left in this expiration cycle. The risk is high. None the less I might give it a shot. Gold was little changed as the dollar continued weaker. The XAU lost a point and a quarter but the volume was lighter. I think we are due for a rest in the gold market. However I am not looking to short it at the moment. Mentally all is well but the post is short today due to the switching over of this blog to a Google account. Whatever that means. Google must have bought out Blogger. Regardless, I hope it doesn't interrupt my continuing blog. Otherwise, the Dow hit a new high today and the other markets didn't follow again. My belief is that it will lead to lower prices at some point. We'll see.

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