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Monday, November 01, 2010

The Dow gained 6 points today on average volume. Advance/declines were positive. We were up over 100 points early. Not really overbought or oversold here. I think it's a waiting game for the Fed announcement on Wednesday. We'll get through the elections tomorrow. No OEX trades for now. Gold lost $7 on the futures today. The XAU gained 1/2. The dollar was up today. ABX, GG and NEM all had fractional moves one way or the other on light volume. Might try a gold share trade if we get a sell off from the Fed. We'll see. I'm also looking at longer term GE calls going out to next year. Mentally I'm feeling OK. Just under 3 weeks for the November option cycle. If there is a decent trade out there, now is the time to put it on. I'm still a bit gun shy from the lousy trading year that I've had but I can't let that stand in the way. I'll check the charts tonight and go from there.

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