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Tuesday, September 29, 2009

No follow through to the upside as the Dow lost 47 points on average volume. Advance/declines were about even. I'm still leaning to the downside once we get tomorrow out of the way. I'm looking at the OEX puts again before Fridays employment report. That is the game plan for now. Anything could happen however. Gold was flat today but the XAU rose 4 points. ABX, GG and NEM were all up a buck and change on average volume. The dollar was up a bit. I don't know what to make of the action today in the gold shares. End of the month positioning perhaps? I still like the gold shares and perhaps if we get them down again I'll give them a try. I'll be looking at the GG October calls. If my prognosis for the stock market to fall here happens, then it will give me a chance to pick up some of the gold share calls. We'll see. Mentally I'm a bit tired, did not sleep well. I'm trying to remain patient here and it is working so far. I'll need to check the summation index later tonight. I get the feeling that I am going to put on some sort of trade before Friday. What that trade is, is the question.

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