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Tuesday, October 13, 2009

We sold off early and came all the way back today as the Dow lost about 15 points. Volume was average while the advance/declines were negative. 3 days to go and my OEX puts are running out of time. However I am committed to waiting for Thursday at this point. Some data out tomorrow including the FOMC minutes. Still overbought here but that hasn't meant anything lately. Intel earnings after the bell today as well. We'll see. Gold continues with its breakout, up another $7 on the futures. The XAU rose 3 points. ABX and GG were up about 1/2 on average volume. NEM rose a bit over a point. The dollar fell again today. Everyone seems to want to be long gold now. That won't last forever. No mistaking that I missed that move though and had plenty of chances. Mentally I'm feeling OK. I'm somehow still believing in this OEX trade but time is running out. However I've been wrong so many times this year it could just be another false hope. I'll know in the next couple of days.

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