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Tuesday, November 06, 2007

We got the expected bounce today with the Dow gaining 117 points. Advance/declines were lagging all day but seem to have come in almost 2 to 1 positive. The volume isn't updated as yet. The market doesn't seem as strong as todays numbers might suggest. But you can't argue with the price movement. Boeing lost around a quarter today and that is bothersome. The market up over 100 and this stock just can't get into gear. It's been that way since I entered this trade. But it was something different and I have now learned to not trade it. If it doesn't perk up here tomorrow it will probably be time to say goodbye. Yes, it's frustrating but it's also part of the game. Gold continues parabolic, up another $12 today. We should break the all time high any day now. The gold shares are moving straight up with the XAU gaining 6 1/2 points. ABX and NEM both higher on good volume as the dollar hits fresh new lows. How long can this go on? Who knows? I should have jumped aboard this train long ago but I'm not about to now. Perhaps it will run up into the November expiration and then take a breather. That area continues to attract money and you can't deny that. GE was another stock that didn't rally with the Dow today as it was unchanged on average volume. You would like to see GE in tune with the markets move and that makes the rally suspect at this point. But tomorrows another day. Mentally I'm feeling OK, got a good nights sleep. We got the expected up move and where we go from here is what matters now. I'm still looking to get short before the inflation reports next week as of now. I will dump the Boeing trade this week hopefully and go from there. It is possible that this is the beginning of a new uptrend also. So there is a lot to play out in the days ahead. The volume was heavy today as it has been lately. There isn't a lot of data to go of this week either. Trade report on Friday. We'll see what tomorrow brings...

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