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Friday, December 17, 2010

It was an uneventful expiration as the Dow lost 7 points on good volume. Advance/declines were positive. It was a sideways week and the technicals are still overbought. We will now enter the end of the year holiday mode. Trading will most likely be slow. There is also an extra week in the January option cycle. GE lost 7 cents on decent volume. There's been a lot of good news out of GE so far this month so I wouldn't expect any more in the near term. I'm holding the January calls until next year. They're still showing a profit. Gold gained 8 bucks today and the dollar rose a bit as well. The XAU was up 3/4. GG and NEM both dropped 1/2, while ABX was flat. We are getting oversold here so I'll be taking a long hard look at the gold share calls in the next couple of weeks. That should be my next trade initiation. I do expect the gold shares to rise in the beginning of the year with new money flows. I could be wrong. Mentally I'm a bit tired, did not sleep well. That should be it for this years trading ledger and it was a disaster. Let's hope there isn't a repeat next year. I've made some changes in risk management and we'll see how they work out. The markets will have many opportunities available. It's just a matter of finding them. It's getting close to Friday evening and time for a rest.

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