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Monday, April 16, 2007

We have 20 minutes to go in the trading session as the blog has to be early today due to other commitments. The Dow is up over 100 at the moment and the volume is strong. Advance/declines are over 2 to 1 positive. It has the feel of a breakout. I did something stupid last night and put in an overnight order for SPX puts. I priced it so that I really didn't think it would get filled. My idea was to adjust it in the morning. It was filled immediately at the open and is losing money as I write. I'm waiting for the data tomorrow on inflation. I might be able to break even on it perhaps. There isn't much money in this trade but still I'd like to not show a loss. Gold continued higher today as the dollar fell again. It was up around $5 and the XAU is gaining over a point. The options on ABX and NEM aren't moving much and the shares are each up around 40 cents. I have had thoughts of getting long here even though they have run up but I'm laying off for now. Mentally I'm feeling OK, even with the stupid trade today. Anything can happen tomorrow as any day I suppose. The battle always lies with yourself. For all I know we could be heading for record highs too. So we'll see what transpires...

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