Wednesday, December 19, 2007
Another wishy-washy day as the Dow lost 25 points. Advance/declines were negative and the volume was light. There is no conviction in the market these days with a bias to the downside. Maybe holiday mode has started early. I suppose that with all the uncertainty, people are holding back. Gold lost a couple of bucks and the XAU dropped a point. ABX and NEM both were down on light volume. I'll be patient there. I think that you have to be at this point. GE lost around 20 cents on average volume. We are at 36.62. We will get to 37.50 by the close on Friday? I doubt it. This trade is dead. Mentally I feel OK, got a good nights sleep. I suppose I'll just have to take my losses in GE and look forward to next year. It's really all that I can do. I'm going to have to have more discipline and work harder next year to get back to profitability. This was one of my worst years ever, for whatever reasons. You've got to put it behind you and start fresh next year. I will need to be prepared for the new trading year. So that's what I'll be doing for the next couple of weeks. Getting mentally ready to start the year off right. I'll also take a break since the markets will be thinly traded for the holidays. The market seems to be trading that way already.