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Thursday, October 16, 2008

The post is a bit early today as I have other commitments. We are up almost 400 points at the moment. Volume is good and the advance/declines are negative. Weakness can be bought in my opinion and the worst is over for now. I could be wrong. It is expiration week so anything goes tomorrow. Gold got killed today, down $35. The XAU is off about 7 as we speak. ABX and GG down over 2, with NEM off 1 1/2. Volume extremely heavy on the gold shares. The Gold/XAU ratio sets new records everyday it seems. This can't go on forever. But who knows? Gold could be signaling deflation ahead and that is a possibility. If that's the case the gold shares will be dead money. Time will tell and I really don't have a handle on it at the moment. GE is up 1/2 on extremely heavy volume. I'm leaving in the open order for December calls but at this rate it will not get filled. I should cancel it before the weekend. I do believe that calls are the way to go there for now. Mentally I'm tired, did not sleep well. Still not feeling good either. It wasn't a good time to be ill but when is? I'm going to tread lightly here for now until I can assess the damage and come up with a game plan going forward.

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