The Dow was up about 90 points today. Advance/declines were positive but not as much as an up 90 market would indicate. Volume was good. The Dow has broken through the latest downtrend line but the other indices haven't. If the Dow is leading us higher we could be near the end of the rise. I'm not exactly sure but who is, ever? I would like to get short here but there really isn't a clear signal. I think I'll just have to wait but we'll see what happens tomorrow. The XAU was down a bit but I didn't see that the puts moved too much. I guess I'll have to start keeping an eye on the dollar again. GE had a big reversal on heavy volume and that helped turn things around for the Dow. Not that I'm going to play GE again anytime soon. I would like to do something before the employment report but who knows? I need to play it smart and that is not always the thing to do. It sounds like it is though. I guess I could try and be patient and wait for a move to 1300 on the S&P 500. It is tough to try and trade on mixed signals but the market will do what it wants. Mentally I'm doing good and got plenty of rest last night. However I need to focus on what needs to be done here. The discipline isn't what it needs to be. I'll work on it...

The Dow lost 35 points today on good volume. Advance/declines were positive though. I'm getting mixed signals. Might have missed the opportunity to get short. I think that may be true as we are selling off in the aftermarket due to Google. I will have to wait for something solid if I'm smart about it. No guarantees there. Gold was down a bit but the XAU was up over 4 points. I think it was some end of month shenanigans. Might want to short it here but it is a freight train and it would be stupid to try. That said, a pause or correction is overdue and the technicals are all overbought. There is no rush to trade here. Mentally I'm a bit tired today and that isn't good for trading. Not much I can do about it though. Trying to remain positive about what I'm doing but that doesn't always work either. So for now it's a wait and see game. I would like to get short but who knows? Beginning of the month money flows should appear. If we can get higher here the next couple of days, I'll look for some puts. If not I guess I'll wait for a buy signal. Sometimes February isn't a good month and sets up for the rally into March expiration. We'll see.

The Dow was off 7 points today while the overall market rose a bit. Volume was average and the advance/declines were slightly negative. I would like to get short somewhere in here but I don't know if the market will accommodate me. We are overbought and a negative day will arrive this week. I would like to wait for Wednesday but who knows. Fed announcement tomorrow. End of month also. If we can go sideways into the 1st of the month, I can do it. Not a super strong sell signal yet but I think it can be. I'm going to be patient though. Lot's of time left for these options. I have an upper target in mind and when we get there I will have to think long and hard about it. Gold went to new highs today and I'm just here watching it. I do want to short it a t some point but cannot step in front of it now. Mentally, I think I'm ready for the next trade and will try and do the right things. I'd like to make it a good one. I'm getting plenty of rest and am not feeling too bad. I do have a dentist appointment later in the week but I should have a position by then. We'll see. I need to read the blue book and get ready. The time seems to be near and I have to be ready for it...

A rerun of yesterday, with the Dow up about 100 points. Advance/declines were almost 2 to 1 positive again and the volume was heavy. All things now look to point to higher prices. We are short term overbought though. I would like to find a place to get short knows? New highs are expanding and the summation index is pointing up. Perhaps I should just stay out. I will, for now. But next week will be a different story. Gold didn't move much today and the XAU was higher early but ended up just a tad. Watching it for now but no real gameplan there. Seems like there are some crosscurrents in the market here. I will have to check things over the weekend and come up with some ideas for next week. Lots of economic news with the Fed on Tuesday the most important I think. Perhaps I will get short before the announcement, if the market stays up until then. There will be a decent downmove at some point based on my indicators. When, is the question. Mentally I'm OK, not in peak condition but all right. I'm going to rest up over the weekend and get back at it Monday morning...

The Dow rose 100 points today. Advance/declines were almost 2 to 1 positive and the volume was heavy. I think we are about to get a short term sell signal tomorrow and we are just about at the downtrend line. Not sure what to make of this. Too early to get short I think and there is no signal on the summation index. I'm on the sidelines. Also GE cascaded to the downside and that is sometimes a forewarning of what is to come. But who knows? The XAU rose another 2 points today and that index just keeps going higher. Would like to short it but the money just keeps going there and I haven't exactly had my eye on it like I should. I need to pay more attention. Kind of lax this week since the expiration but that period is over. Mentally I'm a bit tired but nothing that should stop me from what needs to be done. We are entering a normally strong period of the end of month and beginning. So I'm on the sidelines. I think if things pan out I will get short before the employment number next Friday. I think GDP comes out tomorrow. Then there is the Fed meeting on Tuesday. So there won't be a lack of market moving events. I need to be disciplined and get ready to go. The money will be there to be made. The question is can I make it?

The Dow was little changed, down 2 points. Volume was pretty good again and the advance/declines were slightly negative. We haven't done much in the last 3 days, up about 20 yesterday. Don't know where we go from here but I'm going to wait for a signal either way. Gold was up about $4 and the XAU set a new high. GE has been steadily losing ground on heavy volume for a week. That does not bode well for the overall market, I believe. We'll have to see what happens. Yesterday was a nice little break but I need to get back in focus here. Mentally I'm a bit tired but hanging in there. The week after expiration is not normally the best time to trade due to the high premiums. Next week will be better and I will probably wait until then. I've put the last trades mistakes behind me and am going from here. It's what you have to do. Nothing will change what has already happened and I'm not going to sit here and lament. Looking for the next opportunity and hopefully I'll be good enough to take advantage of it. You just gotta keep moving because really, that's all you can do...

The Dow gained 21 points today on average volume. Advance/declines were positive. I think we will see some sort of bounce here but a weak one. The summation index hasn't turned down solidly just yet. Gold didn't do much that I could see and the XAU was flat. Might want to short that here soon but I need to start watching it closely again. A nice break for the weekend and the options a re all priced high now after expiration so I'll be on the sidelines until a decent signal appears. Still smarting after last weeks debacle but I'm not one to dwell on it now. There is a lot of time and money left for this year. Hopefully I've learned from my past mistakes. Hard to say but we'll see. No clear ideas at the moment. Would like to see a snapback to the uptrend line that was broken on a daily basis Friday. Might try the SPX instead of the OEX if I can afford it this time. We'll see. Mentally I'm trying to keep it together as usual. Not feeling too sorry for myself as that won't serve any purpose. Just have to dust myself off and keep on going. Taking off early tomorrow to go hiking so the blog may not happen. I don't think there is much going on this week. Fed meeting sometime before the end of the month. Just coasting for now but keeping an eye on things as it must be...

The market got pounded on expiration Friday. Down 213 points on heavy volume. Advance/declines over 2 to 1 negative. I sold the OEX calls for about a 40% loss. I'm an idiot. Had a gain yesterday did not put in a stop-loss order and I got what I deserved. Could have sold first thing in the morning for break-even and waited for a bounce that never came. Did not manage this trade properly, just like the GE trade. Must make the proper changes immediately or just stop. Should have had 3 winners to start the year and am left with this. Horrible. I must get better. Very disappointing. GE was down hard, over a dollar on extremely heavy volume. I was lucky to bail out yesterday and absorb the loss before it became a total loss. Again, I should have gotten out of the OEX trade also. The exact same thing happened with the first OEX trade when I did not sell out the GE calls that were profitable. If I felt the need to bail out of the one trade I just should have gotten out of the other. Terrible trading tactics and I really need to step back and get it right for a change. Stop-loss orders are now mandatory. They must be moved up as a profit takes shape. If I get stopped out, so what? I have seen enough times when the trade just goes the other way and I sit there. Many trades have been winners that have turned into losers. Too many. The discipline required has got to happen now or it just isn't worth it. The money is there to be made and my ability to get the right trades is there, they just aren't managed correctly. It's up to me to change that. I need to work on that. That will have to be the priority. It will make things so much easier on myself. I cannot take the torture that much more. I have to have the ability to move forward in the face of frustration. It isn't easy. The weekend is here, I'm tired and defeated for now. I am going to take it easy next week and try to limit myself to only the best trading opportunities. I want to limit the commissions. I have already overtraded and did a bad job at that. It's time to take a step back, regroup and rest...

Blog didn't publish. No time now. Sold GE calls at a 70% loss. Still holding OEX calls.

The Dow gained 25 points on good volume. Advance/declines were over 2 to 1 positive. I bit the bullet and sold the GE calls at a substantial loss of over 70%. I did not want to wait for the earnings tomorrow. I am puzzled as to why these things even had a bid, being 30 cents out of the money and a slow mover. The volume there was huge also. Perhaps the options market knows something. We'll see tomorrow. The stock was down on heavy volume today. I don't know what it means except that I screwed that trade up and should have sold out when I sold those OEX calls. Seems like I start every year with a big loser and then have to fight my way back. Luckily I have already made some money with the first OEX trade. I am still holding the calls I bought on Wednesday but probably should have dumped them today. They are showing a slight profit and I will need the market to open stronger to have a chance at getting some profit there. I think the decline is done for now but you never know what will happen from one day to the next. Certainly we could be down tomorrow and these could be wiped out. As for GE I really don't know why the premiums are so high with only one day left. The earnings must really carry some weight. Mentally I'm a bit tired and will be glad when the week is done. I need to remember to just take the good set-ups and not trade as much. I also need to set better targets and use the stop-loss orders. I am disappointed with my performance thus far and a loss in this OEX trade won't help things. Anything can happen on expiration Friday and I am a fool for still being in this trade. I had a decent profit today and did not take it. Greed and foolishness are a stupid combination. We'll see what happens tomorrow...

The Dow lost 41 points today on average volume. Advance/declines were slightly negative. The Japanese market got hammered and had to close early which spooked the markets here. That combined with the earnings coming in poorly led the sell-off. We were off about 75 at one point. I bought some OEX calls. I still think a bounce is coming but my timing wasn't that good. There is also a downtrend line in effect now and we are on the way back to it. I didn't put a lot of money in this trade because it really isn't a good set up. I probably should not have even taken this on with just 2 days to go. But if we can get through the downtrend line, it could be a winner. It is right about where I bought it and the time factor looms large. Again, I don't usually do trades like this so we'll see what happens. I still own the GE calls and that sold off and came back also. But they are way in the red and I will think hard about just cutting the loss tomorrow in front of the earnings. I do not want to take a big loss here but it is possible. At this point I will probably wait for Friday and hope to get bailed out. We'll see what happens tomorrow. That trade, in retrospect, did not work out from the beginning and I held on anyway. Those kind of trades have got to be dumped early. I need to remember that. Mentally I'm again having problems of talking to non traders who just don't get it. As much as I'd like to discuss trading with others, it's a losing proposition. People just do not understand what it is, what it involves etc. It is a waste of my time to try and explain. Yeah, it gets lonely when you're the only one but I now realize that it's better than dealing with those that don't understand. I guess trading is a solitary business and that isn't going to change. The battle is with oneself and the markets. No need to discuss this with others. Let them live their lives and I will get what I can from the markets and leave it at that. Less hassle that way and there are enough problems without creating any more. We see what happens tomorrow and if I'm up to the challenge...

The Dow lost 63 points today on OK volume. Advance/declines were almost 2 to 1 negative. I had an order to get some OEX calls but it wasn't filled. The timing looked right and it would have had a profit by the end of the day. I just didn't act fast enough. But the signal here isn't the greatest. And I'm still holding a losing position in GE, which could turn into a disaster if I don't cut the loss here fast. I don't think I want to wait for the earnings. After the bell today a few major companies have disappointed and the market is getting slammed. GE will no doubt be down tomorrow. I have to rethink the gameplan from here now. Perhaps a long position in the last week is the wrong position. A solid buy signal is possible for Thursday if everything falls into place tomorrow. But maybe just sitting it out is the right thing to do. Because we will most likely set new lows tomorrow and break what I thought was support today. Tough game. I need to get done with GE somehow and not sustain a heavy loss. Time will tell. I'll need to check the support levels tonight. Mentally I'm feeling pretty good. Not beating myself up for missing the move today and in hindsight it looks like I can get those calls cheaper if I so desire. The GE trade looms though and I really don't want to wait until Friday. I have seen it work out before but the risk is really high. Might have to wait though with the weakness tomorrow. We are at the top of the S&P 500 weekly trading range and falling from there. That line seems to be key and we are not breaking to the upside. There is also a negative divergence in the RSI which I have noticed and may be influencing my hesitation today. Whatever the case there still should be an opportunity to get long sometime in the next 3 days for a profit. Whether or not I can do it is the question. I'll pick out some levels tonight and take it from there...

The Dow was little changed, only down 2 points. Volume was about average and the advance/declines were positive. I would have liked to see some more downside action. I still think that we could have a nice week next week. I plan on getting long again on Tuesday when we re-open if there is some downside. Otherwise I might have to sit it out, which I don't want to do. GE was up a few cents on light volume. I need to get out of this. It is a loser right now. I don't know if I can wait around for next Friday and the earnings. I probably shouldn't. Gold was up again, around $7 and the XAU hit another new high. This is where the money is, not in GE. I should have stuck with my original idea of the January 120 calls. Foolish not to. It is easy to look back though. So here I sit before a long weekend with a losing position and no clear picture of where we are headed. Not the best of shape to be in. Mentally I need a break and I will get it. It will be interesting next week and I have got to be up for the challenge. More upside early is not what I want to see. A down day Tuesday will get me in but it isn't the most sure of trades. Perhaps I'll use my head and wait. Don't know. Otherwise I am trying to maintain a schedule and do the work that is necessary. I do have some loose ends to tie up over the weekend but I need to rest too. It is a demanding game and time out to recharge and get a better look at things is in order. It certainly will drain you if you let it. Gotta control yourself as much as you can. Not easy but again, you've got to do what it takes to be successful...

The Dow lost 81 points today on good volume. Advance/declines were about 2 to 1 negative. I didn't like todays action as I am looking to get long. It worries me that we have actually put in a top. I will have to check the option numbers tonight. GE was down over 40 cents and that trade is now a loser. I suppose in hindsight I should have gotten out yesterday. We are right at the 50 day moving average. If it breaks it I had better sell. Right now it looks like it's going to be a loser. Note to self: Do Not Trade GE again this year. It is a dinosaur and doesn't move enough. Trade the OEX and be good at that. We'll see what happens. Gold was down a bit and the XAU was also. Would like to short that as a top looks like it is forming. Need to keep an eye on it. Hard work though when my mind is focused elsewhere on losing propositions. Trouble. Mentally I'm a bit tired. I need to get the gameplan for expiration week. I did want to get long at some point but I guess I will have to wait for a signal. Perhaps on Tuesday is what I am thinking at this point. Producer prices tomorrow and that should be a mover. We'll see how the market reacts. I really do need GE to hold in here. I do not want to have to wait for the earnings to bail me out because something tells me they won't. Also to keep in mind is that the S&P 500 is up against a longterm weekly resistance line and has not broken through. I don't know if it can. I really need to be careful here and will try. Hopefully I won't do anything before the long weekend tomorrow. I think I can have the discipline to do that. Maybe dump GE if it breaks. Not sure but that trade doesn't look good. It moved sideways and never got going during this rally. That should have been the tip off but I'm a bit slow sometimes, especially when I have a stake in what is going on. Foolish...

The Dow rose another 31 points today on good volume, again. Advance/declines were positive. I don't know how much longer this can go on. Very overbought. We will have a down day in the next 2 days I believe. I sold my OEX calls. I'm early, I think but I don't want to ride them down and then go back up. I plan on getting some calls on any weakness in the next couple of days. But I could be wrong and should have held on. I also could have gotten a better price for them today. We will see what happens tomorrow. This is a strong market for now no doubt. The calls had around a 400% gain. I'll try and buy them back cheaper or move to another strike price. GE was up 20 cents today finally. Those options are barely profitable. Not so sure as to what to do there. The stochastics are moving to the top of the range. Would like to hold on until next week but those earnings could be a problem. On the other hand they could be a catalyst. Tough call but if we rally there to $36 I will seriously consider getting out. Gold didn't do much today that I could see but I was focused elsewhere and do not want to spread myself too thin. Mentally I got a good nights sleep and have some ideas on how to act before the expiration. We'll see what happens but everything looks like it is panning out for now. But you can never tell in this game and I will have to keep an eye on things...

Did not get here yesterday as I left as soon as the market closed. We were up good again on decent volume. I expected some downside today and we got it early but then closed unchanged. Volume was good again and the advance/declines were positive. I really wanted to see at least a few points down on the OEX because we are way overbought. The calls are still looking good and it looks like I might just have to hold them until next week. The summation index is still pointing up and the McClellan oscillator just confirmed the new high prices. I would like to sell and buy back but it doesn't look like the market will let me do that. Unfortunately GE isn't moving and that is a pain in the ass. I should have gotten out when I had a small profit because this trade isn't panning out. There is not enough movement in this issue to be bothered with it. That is my mistake. We are just about at the 50-day moving average again and perhaps we can bounce from there. Again, earnings don't come out until the final day of expiration next week. I'll have to do something but don't know what just yet. Gold was down a touch and the XAU was off a bit. Would really like to short it here but am already involved elsewhere. I don't want to take on too much early in the year. Trade number out on Thursday and that could be a mover. We need some downside because the market is getting overbought both short and medium term. I expect a nice upmove next week, which is a shortened one, at some point. Trying here to decide when to position for that. Not an easy task. Mentally I'm a bit tired from being out last night and not in the norm. Discipline remains the key to success I believe and I have to be here to have that. The next few trading sessions will be key to getting off to a good start this year. It's possible but not with doing what needs to be done: focus, commitment, dedication, discipline, proper rest, concentration and desire. We'll see what happens...

I had a dentist appointment yesterday and did not have time to post. The market was flat. Today we were up 77 points on decent volume again. Advance/declines were 3 to 1 positive. My OEX calls are doing nicely. The summation index is pointing up and everything there looks good. But that worries me. We are overbought. Now we could stay there but I am expecting some type of pullback next week. The question is whether to sell now and then buy them back cheaper or just hold on. I'll decide over the weekend. They do show a nice profit. GE isn't moving with the market and that bothers me since I have more money in that trade. It is slightly profitable. Another problem here is that the earnings come out on the Friday expiration. It hasn't broken out yet and it may not. Don't know what to do there. Gold got hammered yesterday but came back even stronger today on the weak employment report. The XAU is almost at 140. That would have been thought impossible a month and a half ago. Still bumming out that I don't have anything there. So there you have it for this week. It was a very good one for the longs. How long can it last? I don't know. Perhaps all the way to the expiration. I might play it like that. I need to go over things over the weekend and see what reports are coming out next week. Mentally I'm a bit tired. I am trying to do things right this year, at least to get off to a good start. I don't want to get too complacent here just because things are going my way. This can be a very cruel game. I'm going to have to pay attention and make some good decisions. Easier said than done. However it's the weekend and I will rest at least for a day and a half. I'll try and get my head together and decide what to do from here. It is never easy but what can ya do?

The Dow was up 32 points on good volume again. Advance/declines were over 2 to 1 positive. The OEX was higher and my calls are still in the black. GE was little changed although it was down for most of the day. The calls there are still showing a little profit. Gold was up a bit and the XAU tacked on over 2 points. NEM was higher too. The volume in gold still supports higher prices at this point and I am sorry that I have missed this. The money is going in there and that's all you can ask for. I can't chase it now though. The stock market needs a rest here and it will be interesting to see how the week ends. I should put in some stop-loss orders but I also think we could finally break out of the overhead resistance and if that happens I will actually make some money. But if it doesn't I will be a fool again. I'll try to not let that happen. Mentally I didn't get a good nights sleep and I'm tired. My mind is focused on what has to be done in the markets though. I will not let anything interfere with what needs to be done this year. I want to make this the best year ever. It can be done with discipline and keeping my emotions in check. Easier said than done...

The Dow rose 130 points today on heavy volume. Advance/declines were 3 to 1 positive. The market didn't do much and was negative in the morning but after the Fed minutes were released it rallied strongly. The OEX calls I bought have doubled. GE was down for most of the day but reversed late and ended up 30 cents. Now the question is if this is just a one day wonder or the start of a sustained move. I don't know. We are back at resistance. If we can get through there with some volume then we will go much higher I believe. Has yet to happen. Gold was up over $13 today and I am very disappointed that I am not involved. The XAU rose an astounding 7 points. NEM was up over $3. I had been considering the January XAU 120 calls and never acted on it. The price and volume patterns pointed towards higher prices and I didn't do anything. I had read an article that gold had reached a top and I let that sway my opinion. That was a mistake. I do make mistakes and missing this move in gold is one of them. You have just gotta go with what the market is telling you, whatever the market. I was a fool for this one. And I'm not very happy about it. Mentally that is gnawing away at me and I cannot let it affect what I must do with these other trades. I will try and stay focused. I have no targets for these other trades but I need to look at the charts. Stop-loss orders should probably be placed but I haven't done that yet. My priorities for the coming trading year must be put in order. I need to do the work and keep my head together. Everything else should fall into place...

The Dow lost 67 points today on again, light volume. Advance/declines were negative. I bought some OEX calls. I'm getting a buy signal, both short and intermediate so I have to take it. But the market is acting very poorly. GE was down today and my calls are now losing money. We are on the trendline and any weakness will negate this trade. I'm looking for the market to rally when it opens on Tuesday and perhaps I will just bail out of everything then. I will have to look at things over the long weekend. But right now it doesn't look good. Gold was up a buck but the XAU lost some ground and is right at its uptrend line. A break there could result in a short position but I have too much going on already. So I'm already in over my head for next year so let's take a look back at this past year. I started out losing 30% of my trading capital in the first 2 months. It was a terrible beginning which I do not want to repeat this year. But who knows? It was an up and down year. I made a lot of mistakes and had a few nice trades. But it wasn't quite good enough. There is room for a lot of improvement and I know this. My win % sucked. I got in late and out early. I got in early and out late. I had some options expire worthless which should never happen. I've got to get better. My trading account ended the year up 80%. It was a very frustrating year. I would like to have a better year in 2006. I've committed to doing the work. My discipline must improve. I know it isn't easy and I also realize that it is totally up to me. There are no excuses. I'll try and relax over this weekend and then get off to a good start for the next trading year...

Short blog today. Market not acting well, Dow down 11 on light volume. Advance/declines negative. GE up a few cents after being higher most of the day. I'd like to have the guts to pick up some OEX calls here but I don't. XAU still moving to new highs with gold actually down a bit. I am getting a buy signal on the overall market but it is short term. Perhaps I will think about it tonight and maybe get up early tomorrow and get some calls. Risky. No time today to write. More tomorrow...

The Dow was up 18 points on light volume. Advance/declines were almost 2 to 1 positive. GE was down early and ended up basically unchanged. My GTC order for calls was filled. I don't know if I'm glad or sad. I suppose I still want to do this trade but I'm skeptical at this point. We have moved sideways for so long I don't know what to think. It is right at the uptrend line though so if ever there was a time to try this trade, now is it. We'll see what happens. Gold was up around $7 and the XAU broke out to a new high. NEM rallied also. Perhaps I should have kept a better eye on this for this is where the volume is. But it could just be an end of the year thing with managers wanting some gold shares in their portfolio. That's a guess. The XAU is higher now than when gold touched $540. I think it's a positive for the XAU. Time will tell on that also. I think we are approaching oversold here on the overall market and hopefully GE will rise along with it. Nothing is for sure in this game though. Mentally I'm OK but would like to get a bit more sleep. I've been getting up earlier than I used to. Don't know why. We should limp along to the end of this holiday week here I believe. But with the volume so light, anything can happen.

The Dow lost 105 points on light volume. Advance/declines were 2 to 1 negative. No buyers today and I don't know what to say. I thought this would be just a slow week but who knows now? GE was down around 35 cents and is right at the trendline. My order is 10 cents away from being filled but now I don't know if I want it. I left it in though because I think by the end of the week today will be forgotten. Or maybe not. Gold was up $5 but I think the XAU was actually down today. I'll be keeping an eye on things for sure. Mentally I'm a little off with poor sleep lately and just a holiday mode. That has to change. I would like to get off to a good start trading next year for a change. It is up to me. Yeah the XAU was down over half a point. I'm going to stick with GE for now and it should get filled tomorrow or else today was the day to get it. You can never tell.

The Dow was down 6 points on light volume. Advance/declines were positive. It is holiday time. Next week should be slow with no real conviction one way or the other. Gold was little changed, the XAU rallied and then fell back. GE went nowhere. I still have my GTC order in but I'm thinking that I might cancel it next week. Not getting a good feel right now about where we are headed. Mentally I need a break but will stay focused on what I need to do. I'll review what happened this year and prepare for 2006...

The Dow was up 55 points on light volume. Advance/declines were positive. It is the holiday season. Volume will be light and the movement will have an upside bias. At least it should. GE was up about 30 cents on light volume. I am leaving in my GTC order and it doesn't look like it will be filled. We haven't gotten to the trendline as yet and may not for all I know. We'll see. But I think that at this rate I am pretty much done for this year. Gold was up 9 bucks and the XAU rose 2 and a half points. I guess I better keep an eye on this also. But the extra week on the options means that we are just arriving at the normal cycle. The market has moved higher and the OEX calls have barely budged. That is the trouble with extra time. Movement in the indexes doesn't necessarily mean movement in the option price. Mentally I'm doing fine with an extra half hour before going to work making for no time pressures. I'm looking forward to taking it easy over the long weekend and think that tomorrow will be a snoozer too.

The Dow was up 28 points on light volume. Advance/declines were almost 2 to 1 positive. We were due a bounce and the market was much higher earlier in the day. I think we will move higher but hang around for a day or two. GE was down about 20 cents and is almost at the uptrendline. My order remains in effect and it could get hit tomorrow. Or I might have to adjust it if the line is touched. We'll see what happens. Gold was down today but the XAU rose 3 points. Interesting. I may need to keep a closer eye on that. Not much else to say about today. Mentally I'm feeling fine. The week should close quietly, with the holidays arriving over the weekend. Next week should be a snoozer early on also.

The Dow was down around 31 points today on light volume. Advance/declines were about even. I took yesterday off from the blog and we were down yesterday also. We are at short term oversold. Any downside tomorrow can be used to get long it you want to. However the summation index has turned down so I'm not so sure what to do here. I am trying to get long GE. I have a GTC order in for some January 35 calls. We are almost at the uptrendline for GE and I will get long there. If it doesn't hold, I'll get out. Might want to try some OEX calls here also. Not sure exactly what I'll do but should try something if the technicals call for it. Gold was down again today and is now under $500. The XAU fell a couple points too. Staying away from that market for now. No clear idea of what to do there. I'll wait for the XAU to get back to the trendline. But this market could be over as far as the longside goes. Don't know for sure but I'll keep an eye on it. No other trading thoughts for now but I do expect some strength here in the stock market towards the end of the year in anticipation of the new year. Mentally I'm a bit tired as I had to get up early today and did not get a full nights sleep. Also trying to be patient here as the options have an extra week on them. But I have to do it when the signal comes and it looks like we are getting one tomorrow but it could be a weak one. We'll see...

The Dow lost 6 points today on average volume. Advance/declines were slightly negative. I managed to stay out and did not make any trades this week. GE was basically unchanged. Gold was up a bit and the XAU gained about 2 points. We now enter the holiday period which generally has a bullish bias. However we are up against resistance and slightly overbought. Volume tends to dry up now too so it's hard to trust any moves. I would like to get long GE but now I'm not so sure. There are negative divergences out there on the McClellan oscillator and that cannot be ignored. I am also getting bearish readings on the CBOE call/put indicator. I guess I will just have to try and be patient to wait for a decent signal. Perhaps I'll take the rest of the year off at this point. Try and get ready for next year which should offer many good opportunities. Mentally I'm feeling better, getting over the slight cold that I have. I need to re-focus on what needs to be done here to insure the success that awaits next year. But for now I'll try and relax, enjoy the weekend and develop some type of gameplan for the new year. An extra week on the January options also will play into the scenario. But for now, rest...

The Dow lost a point on average volume. Advance/declines were almost 2 to 1 negative. We are almost done with expiration week. I think it is skewing things a bit. Overbought here and need a rest. GE was up on heavy volume. Looks like I missed that one. Not feeling good about that. Gold was down again today and the XAU was actually up about a point. No trades there for now. I am trying to sit it out here and so far have been successful on that count. Don't know about GE now but I still feel like it could work. Not much else for now with the holidays coming up. There is usually a positive bias and I don't know if I can play that. Mentally I'm not there today as I still have a cold and I had a problem with my teeth on top of that. So I'm trying to just hang in there for now and regroup. Looking ahead to improving my trading next year. This year I started out losing a lot of money and I don't want to repeat that. I don't want to be too cautious but I don't want to be stupid either. I've got to just go after the good trades if I can find them. I know what it takes, it is just a matter of me doing it. We'll see about expiration...

The Dow was up 60 points on a little less than average volume. Advance/declines were positive. No trades. I am trying to stay out of the indices before Friday. Gold got clobbered and the XAU was down over 3 points. I should have shorted it the day it was up $10 and then sold off. I wasn't paying enough attention. GE was higher and the volume was good. I want to go out to January on this issue but will wait for some weakness. However that may not happen and the technicals are oversold. We'll see what happens. I want to do it though and will if I get a chance. I'm not feeling well, I have a slight cold. This in turn is affecting my view of the market. So I'm staying on the sidelines for now. It is probably the best thing to do. Looking to get long GE and that is about it for now. Will keep an eye on the XAU for the uptrendline. Options expire on Friday...

The Dow rose 55 points today on good volume. Advance/declines were positive. The Fed rose rates again and the market took off on the language of the statement. Which was bearish by the way. Go figure. I don't think there will be a trade for me now in the OEX or SPX but who knows, I do some crazy things sometimes. Perhaps if we get some weakness tomorrow but the risk here is a lot. I probably should look to go out to January with my GE idea and leave it at that. But perhaps I'll do something on a very short term basis if a signal comes through. GE was down a nickel on good volume. Gold sold off but the XAU hung in there. I'm going to wait for it to get back to the trendline. Overbought in all time frames. No need to be in a hurry there but that market has drawn a lot of interest and can't be ignored. Mentally I'm a bit tired from last nights dinnerfest and booze. Not the kind of situation for trading. I'm going to rest up tonight and just take it easy. That will help. I need to rest and I know it. I will try not to force things here but I get the idea that the market will run up into the expiration. Inflation number on Thursday. Trade number tomorrow. The smart thing to do here is probably just sit it out. But there will be some money to be made so..... But for now, rest.

The Dow lost 10 points today on light volume. Advance/declines were positive. Entering a tricky period here to trade. I think we need to see some weakness and then maybe some strength at the end of the week but it isn't set in stone and it is just a guess anyway. Things will have to unfold perfectly or I probably shouldn't try to do anything. The risk is high. I will probably try and go out to January on the GE trade. No guarantees there either but at least I'll have time on my side. Gold rose over $10 at one point but the XAU ended up selling off and so did gold. I think the rise is over for now but who knows? Cutting this short today, more tomorrow...

The Dow was up 23 points on light volume. Advance/declines were positive. I dumped the OEX calls for a heavy 70% loss. Not the way I'd like to end the year but it's possible that I won't make another trade this year. Doubtful but possible. I could have sold out at a 60% loss but held on and then just decided to get out and start fresh on Monday. Sometimes it's better that way. This trade was a winner and I turned it into a loser and that is unacceptable. My trading has been horrible this year but it's not time for the recap just yet. I think there will be an opportunity next week but I don't know if I'll be good enough to take it. GE was up early but then sold off some. I almost bought some calls there but my order did not get filled immediately so I canceled it. I am going to get some January calls there next week. Maybe. Gold was up another $5 today but the XAU was down. This market needs a rest and I will try and wait there before getting long. I missed this move and it my own fault. When I could have been making some good money there I was busy taking a 70% hit in the OEX. Stupid. Mentally I'm not feeling all that confident after todays loss. I will have to forget about it and move on. That is the only way to do it. I will try not to dwell on it and let it affect the next trade. I have an idea and I will see if it works out next week. I am not feeling good about what happened today but what can you do. The volume has dried up and it doesn't look like the market can get any traction to the upside. That said, I'm going to try and relax this weekend and get back at it on Monday. It is a tough game, a humbling game and it certainly can take a toll on you mentally. I'm trying my best and I need to get better. That is the truth...

The Dow down another 55 points on heavier volume. Advance/declines were positive. My OEX calls are big losers. I probably should have just sold them today. The big cap stocks are getting hammered here but the overall market is strong. The OEX was down more than the SPX and that rarely happens. Bad news from Merck and Intel after the bell and that makes for a rough day again tomorrow. It pisses me off. But there isn't anything I can do about it. This trade is just a loser. I blew it again. Makes me wonder why I even bother with this shit. I am really feeling down on myself today and I don't know why. I need to keep it together and not let my emotions take over. It isn't easy. Gold and the XAU continue to climb and that is where I should have been. It doesn't make me happy. I pulled my GE order off the table. No sense in losing any more money at this point. I'm getting killed with the OEX trade. And it was a winner at one point. I should have listened to the market. When it sold off on Tuesday. That was the key. I saw it and didn't do anything. Now with Intel and Merck getting pounded, I'm doomed. This is a tough game. What more can I say. It just doesn't get any easier. It only gets harder.

The Dow lost 45 points today. It came back in the last hour and that is encouraging. The volume also contracted and that's a positive. Advance/declines were negative. I was expecting a pullback and if we can contain it here that will be good. If not my OEX calls will be losers like they are now. I should have dumped them yesterday and re-bought them back today but hindsight is easy. I'm not sure that they will work out now because they have not been able to take out the highs as yet and it doesn't look right now like they can. I tried to get some GE calls and this is strictly a short-term trade. I have a GTC order in and this is at most a 3 day trade right now. I don't know if it will get filled but we'll see. We should see some strength in the overall market in the next 2 days. That is my guess for here. Maybe not tomorrow but by Friday for sure. Gold continues to move higher and I just can't bring myself to get long when it has moved so far and is way overbought. But who knows what I will do. The XAU is now over 120 and the January calls I was thinking about are just too expensive. It is going to be tricky to get out of this OEX trade at this point. I may not get a chance at a profit. I think the GE trade will work if my scenario of some positive action takes place. My ideal situation would be a move to new highs but that is wishful thinking at this point. The Fed meets next week also and that will tone things down at the beginning of the week. Mentally I'm a little down for not doing the right thing but I still think there will be some moneymaking opportunities here before the expiration and I will try to keep in tune with what is happening to exploit them. I also do not want to project what happened last month into this one because I don't think I could get that lucky again so soon...

The Dow was up 21 points today but was much higher earlier and sold off at the end. This is not a good sign. Volume contracted going higher, another warning signal. Advance/declines were positive. My OEX calls are about back to what I paid for them and it doesn't look good off of todays action. The candlestick chart doesn't look good here either. I'm holding for now but I don't like the scenario. Tomorrow should be a down day. I don't expect a tremendous decline but time is running out and there is just a small window of opportunity, I believe. GE was higher and sold off to basically unchanged. The chart doesn't look good there now either but a play could develop. Gold was up a touch but the XAU rallied almost 3 points. Looks like a breakout and I did place an order for some NEM calls. Might be chasing it and that is deadly. Did not get filled but it is a market that really looks like it wants to go higher. Perhaps tomorrow if I get a chance but it's risky for sure. Mentally I'm tired and did not spend the day here and that has thrown me off of my routine which I don't think is conducive to good trading. I need to be in my office but I do have other responsibilities now and I am trying to juggle them. Focus and discipline must remain the keys and I cannot let anything deter me from my goals. The market requires the utmost attention and so that's what I have to give it. There are no shortcuts. I cannot let other things get in the way of success. That is the way it is. Anything other than my full attention is a waste of time and money. It's the truth, those are the facts and I must deal with them...

Early post today as I am leaving right at the market close. 45 minutes to go and we are off over 50 points. Advance/declines are almost 2 to 1 negative. I expected some weakness here early in the week and we are getting it. Unfortunately I think it could last until the close Wednesday and the OEX calls I purchased are already back to breakeven. I will try not to buy more even if they get cheaper. GE is higher today and I have an order for some calls there but I don't think it will get hit. Could bode well for the overall market but who knows. Might try to get them in the next couple days if they pull back a bit. Or not. Gold is up around $4 but the XAU isn't doing much. This is usually a negative sign. I need to wait here as we are just about as overbought as it gets. We'll see. Not feeling good about getting long right here for gold. Mentally I''m doing fine after a nice weekend and I will attempt to clear out my head some more today after the close. But the game looms large and I would like to end the year on a positive note. That said I do want to remain disciplined into the end of the year. It's not going to be easy but nothing is in this crazy game....

The Dow lost 35 points today on average volume, maybe a little light. Advance/declines were about even. Although the action implies higher prices, you never know. I'm still holding the OEX calls. I expect some weakness at some point next week but overall I think we'll see higher prices by the end of the week. After that, who knows? Gotta be careful. GE was down today and the volume picked up. Haven't bought the calls here yet and maybe I won't. Gold was down today as was the XAU. Really need to take a break here before I think about getting long again. There is a trendline about 5 points lower on the XAU and I guess I'll wait for that. Employment report was as expected and we did not get a lot of movement really. Not sure what to make of that but it is out of the way. Mentally I think I've got a handle on things here but I don't want to be too aggressive either way. I'm still on the year ending in 5 theory and so I want to be long into the expiration. Don't know if that will hold up but it should. I'm getting more focused and I can see that there is plenty of things to do here, marketwise. I need to stay on top of things regardless of the holidays. Summation index still pointing to the upside and I'll stay in tune with that. Trying to get enough rest and the weekend is here. I'll try and relax...

Back to the upside today as the Dow gained 106 points on good volume. Advance/declines were 3 to 1 positive. The OEX calls I bought are in the black but they did not move that much. Disappointing. I am going to hold on for a while since there is just over 2 weeks until expiration. But this could be a tricky call. I might sell them next week and then buy them back in the final week. Way too far out to really know what is going to happen. GE did not move with this rally today and that is troublesome. Of course I still want some calls there so I feel good about that. But who knows? Gold rose over $6 today and the XAU bounced back over 3 points. Still overbought here but you cannot deny the move higher and I certainly want to participate. Gotta be careful though, there is way too much news coverage on this. Mentally I feel OK as my timing was almost right yesterday. But it is a dangerous game that I'm in here and I know it. Employment report tomorrow and we could head right back down. I've got to get some targets set up for this trade and also check the weekly charts. We are still overbought on the OEX so that's a problem going forward also. We did work off a little of that trin-wise in the last 3 days. Tough game and coming into the last month of the year. Tomorrow is important...

The Dow slumped today, losing 82 points. Volume was average and the advance/declines were slightly negative. The market just could not get going anywhere but down. I bought some OEX calls. Could have gotten a better price but what else is new? I was surprised that they held up as well as they did because obviously I'm early. But I think it will work and I'll be waiting for Friday and the unemployment report. Getting short term oversold but not exactly there yet. We'll see what happens. I was so focused on this OEX trade I did not notice GE until the close and it was down. Might do something there too but I don't want to go crazy. Like I said before, sometimes December is pretty bad too. Gold lost some ground today and the XAU was down over 2 and a half points. I'm still looking at the Januarys but that is a long way off from here. I need to check the charts again on that. I'm thinking today could have been some end of the month lock-in the profit mode. Not sure. Still feeling as if money will come in to support the upside. We'll see. Mentally I'm doing fine, not trying to second guess my entry as of yet. But I still feel like I could have done better. Over two weeks left in this option cycle and anything can happen. But I can't expect things to be like last month can I? Perhaps we will re-challenge the highs on lower technicals. That's what I'm thinking...

The Dow lost a couple points today on good volume. Advance/declines were positive. The market was higher earlier and gave it all back. I'm still looking to buy some calls if and when we get to the uptrendline. Could be tomorrow. I'll try and be ready. If we break the line, well we'll have to see what happens. Summation index still pointing higher. Gold was about unchanged and the XAU fell a bit. I would like to stay clear here but again, I'm not exactly sure about what course of action I will take. Gold is overbought and broke a sort-term uptrend line today. I'm still going to look at the January 120 calls. We need a pullback though. GE was basically unchanged and I'd like to get some calls when it gets to the trendline. So the gameplan for now seems to be to wait for trendlines to be hit. Mentally I'm feeling good and seem to have an idea of what I want to do here. Gotta follow through and pay attention. Discipline is always a key. Employment report on Friday, could be a mover. Looking forward to the next trade. That's what winning can do for you. Put you in the right frame of mind.

The Dow was off 40 points today on light volume. Advance/declines were negative. I do want to get some OEX calls but I want to try and be patient and wait for it to get back to the trendline. We'll see. I think there could be some more weakness later in the week but that is just a guess. Gold was up today to go over $500 for the first time in a long time. The XAU was down a bit however. Everybody is talking about gold and that worries me. Usually whenever the mainstream gets a hold of something it is over. I do want to get the January XAU 120's but I will not chase it here if I can help it. Tough call. We are way overbought and have been. I don't really want to do it now but we'll see. GE was down and it has a gap to fill but I'm not so sure here either because it too is overbought. Might do something for December but I haven't made up my mind. Very iffy prognosis for now but what can ya do? Mentally feeling good and there should not be anything in the way of progress at this point. That could change and usually does...

The Dow tacked on another 44 points today on light volume. Advance/declines were positive. Gotta get a pullback here. Everybody was bullish on CNBC today. I'll wait for a short term buy signal if one ever presents itself. GE was down a touch and might try that again too. The XAU lost over 2 points as gold was down. Not sure about this. Could be that the run for now is over but I might get long when the overbought condition is mitigated. I don't want to get ahead of myself here and will try and remain patient. I've seen some bad Decembers in my time also but this time I think we need to continue higher for the year ending in 5. I've harped on that all year but there is a reason. The reason is because it works until proven otherwise and right now it looks like it will work again. Mentally I'm tired, physically too because I did not get much sleep last night. Thanksgiving tomorrow and a needed day off. Light day Friday and I won't pay much attention. Monday should be the day back for everyone. Still looking to add to my gains this year. But I wouldn't call it a good year. Much to many mistakes for this to be considered good. More like lucky in a lot of cases. Need to improve and I will. Time to rest...

The Dow up another 50 points or so today on good volume. Advance/declines were positive. Not seeing any pullback to get long. Way overbought and the positive holiday trend is upon us. I'll look for an opening but I'm leary of anything at this point. GE was down a few cents but the options didn't lose much value. Might want to play this again. Gold was up another $4 and the XAU gained a point. This thing is going parabolic and I am afraid to get long here but it looks like it could go on forever. It never does. I'll have to fight myself on this one. I'd like to get in another good trade before the end of the year as my confidence has returned. Mentally I'm doing better but I did have a tooth pulled today so I'm not at my best. Got some sleep last night and will do so again tonight. The markets should slow down the next 2 days with a shortened session on Friday. Thursday off for Thanksgiving. I'll wait for some weakness before committing to the next trade. I should really try and take it easy for the next few days and I will while looking forward to next week and the beginning of December. Gameplan to get long GE and the OEX on weakness. I'll try and stay away from gold. At least that is the thought for now. Could change at any time.

The Dow rose over 50 points on positive advance/declines. Volume was light but it is a holiday week. I took today semi-off as I wasn't home as usual. The market is still way overbought but it just doesn't sell off. When and if it does I will get long again. Same thing for gold and the XAU. They just keep going up. Technicals are overbought and overblown. I want to get long but don't know when this runaway train will stop. I still feel that there is more to go though. Feeling tired tonight and am having a tooth pulled tomorrow so that's it for today.

The Dow was up 46 points on heavy volume. Advance/declines were positive. It was a frustrating day. Most of that gain came in the last 15 minutes. A miracle did happen though. GE announced it was selling off one of their units and the stock soared on heavy volume. My options, that I almost sold for a nickel the day before, ended up with a 100% gain. Fluke. And even then is wasn't very good because I left another 30% on the table. But that was sheer luck to be able to even get my money back there. It still doesn't make up for selling the NEM calls but what can ya do? My OEX calls were not a great story either. They took off at the open and I should have just dumped them. I then had to torture myself all day as they fell and moved sideways. They always had a profit but the movement was killing me. I haven't traded the OEX lately and especially on an expiration day. They ended up showing a nice profit but that just isn't good enough. Between 450% and 500%. But I left at least another 120% on the table. Unacceptable. I had held them all day and another half an hour shouldn't have made a difference. It's the difference between an OK trade and a good one. I am disappointed with my actions today even though there were profits. My trading just has to improve. I should have had a gameplan of some sorts. I went in cold and that wasn't good. I also don't even know if I should have done this OEX trade but I went with my gut. Still, the results were lacking. I really need to get back on track. My focus is better but it just doesn't feel as if I'm doing the right things. My discipline is gone and I really need that. I am not happy with todays results. It could have been a really great week. I've blown a lot of opportunities this year. It could have been a banner year. Time to regroup and I think I'll be taking it easy next week, Thanksgiving holiday.

The Dow rose 45 points today on OK volume. Advance/declines were almost 3 to 1 positive. Almost at a breakout but the volume isn't great. One day left on the options. GE actually got a nickel bid at the end of the day as the market rallied. I'm hoping, which is stupid, that tomorrow morning is to the upside and I will sell at whatever I can. The OEX rose 4 points and the calls I bought are in the black. That could all change tomorrow at the opening. The risk is crazy and so is the trade but I went with my gut. We'll see. Gold was up another $7 dollars which is incredible. The XAU only rose a point and a half but the volume was good. I really blew that one. Hard to have confidence with trades like that. So we'll see what tomorrow brings. The market is overbought and staying there. There could be some expiration shenanigans. Anything could happen. I'm hoping for a squeeze and a breakout to the upside. If that happens tomorrows blog will be on a happy note. If it doesn't, more of the same. My ideas have been good but my tactics and timing have been horrible. Mentally, I'm about spent but I will do what it takes tomorrow to insure success, if it's possible...

The Dow lost 11 points with negative advance/declines. Volume was average. GE got a bid again but I did not sell. I still think we could advance here and I bought some OEX calls. It could be a crazy move but I have seen some crazy things today. I know that yesterday I said I would take it easy but I am a trader. GE could get a bid again. Or not. Gold soared today. I am kicking myself for not waiting another day. We got the biggest move I've seen yet. Up about $10 on gold and the XAU rose over 6 points on heavy, heavy volume. NEM was up $3, which I have not seen before. The calls I sold at a 90% loss yesterday are a 90% gain today. You just don't see things like that happen. You can't plan for it so I'm not beating myself up too bad. But we were at the weekly trend line again and it more than held. I will get long at that trendline until it breaks. We are overbought there also but simply remaining so. That's where you get some big moves and we are seeing that now. The OEX trade is highly risky with 2 days to go but perhaps a shorter timeframe will work in my favor. Oversold on a 15 minute basis and we'll see about tomorrow. Or it could blow out and I'll lose some more money. Not a lot of cash in this trade and I've got a gameplan. That gold move still blows me away. It looks like we will bust through the resistance and who knows where we are headed then? All this with the dollar stronger just doesn't make sense. But that's the market for ya.

The market was down around 10 points today on good volume. Advance/declines were over 2 to 1 negative. We were lower and came back a bit. We were also higher and sold off a lot. GE was unchanged and the calls I own don't have a bid with 3 days left and will be a total loss at this point. Great trading. Gold didn't do much but the XAU sold off 2 points and I dumped the NEM calls I had for about a 90% loss before I couldn't sell them at all. That was a stupid trade and never had a chance. I paid for it. That will not come back in 3 days. The volume has dried up there also which I should have recognized but didn't and so it goes. My confidence is shot. I haven't had a decent trade in a while and that could be it for me until next year. Yes, I know it is only the middle of November but I have got to get my mind back on track. The focus and discipline are missing. I think it is time to take a step back and I should have done it a few months ago. You just can't fool yourself in this game. Right now I don't have what it takes to be successful. I need to regroup I think. I do have some thoughts and ideas about where we go from here but... I can't go on losing money and that's the bottom line. I'm going to have to sit down and go over what has taken place in the last few months and go from there. Changes must be made. I think I have taken on too many trades. The commissions are eating into the bottom line also. I need a new strategy, with less trading and better trades. Easier said than done...

The Dow went up another 11 points today on light volume. Advance/declines were negative. Not a good sign if you're long. GE was down and the options are almost worthless again. For some reason I still believe we could have a good run up into the expiration taking GE along with it. I must be crazy. Gold was down a little and the XAU lost almost a point and a half. NEM was down and the options I own are worth half of what I paid for them. Trouble. 4 days left and it will take somewhat of a miracle here. I haven't completely given up on them because I've seen some strange things happen expiration week. But I also know NEM could just move sideways here and that would kill me. The weekly has a good look to it but that doesn't necessarily mean this week. Tomorrow will be important for both issues. Mentally I'm fine, gotta lot of rest last night. No other trades for this week in my mind at the moment but that could change. I'm leaning towards the plus side. Inflation reports this week. I'm thinking they will be weak and the dollar will fall, supporting gold and driving the market higher. Could be wishful thinking. We'll see...

The Dow was up 45 points on holiday light volume. Advance/declines were positive. GE was up a few cents on light volume. The RSI on GE is near the top of the range and it is also up against the Bollinger band. The 50-day moving average looms at $35 also. Tough call. One week and I do not want it to expire worthless on me. That said, I think we will rally at some point next week. Gotta hope GE goes along with it. Not sure and don't like relying on hope. Gold was up over a dollar today but the XAU rallied over 3 points on light volume. NEM was higher but my calls are still losers. And there-in lies the rub. Overall the gold shares are higher but my particular one hasn't moved enough to show a profit. Should I have just stuck to the XAU, even though it is tougher to get filled on the orders because of the Philly Exchange? Hard to say. It is frustrating at times but I guess you've got to go with the vehicle that gives you a better chance for success. I notice the time premium is coming out of the XAU options rather fast with a week to go. That is another thing to take into consideration. NEM good still turn out to be a good trade. We'll see next week. I need to rest up now because it will be hectic next week before the slowness of Thanksgiving week sets in. The money to be made must be made next week.

The Dow rose 93 points today on good volume. Advance/declines were positive. You just can't keep this market down at this point. That said, we are way overbought and a pause is in order. GE rose big on good volume and there is a bid to my calls again. Nothing short of a miracle really. Six days left and maybe they can even get into the money. Not totally blown out to the upside on GE but you never know. Gold did not do much today even though the trade deficit hit a monthly record. The XAU opened higher and then closed off over a point and that isn't good. The NEM calls I bought yesterday have lost half their value. Tomorrow is important for the XAU to bounce back. If it doesn't then I'm dead with these and it just goes to show you that you NEVER chase a move. It just doesn't pay off enough. I should know this by now. Once in a while it will work but it usually doesn't. You get what you deserve sometimes. The XAU uptrend line continues to hold though so we shall see. I'm not feeling good about it though. It is a tough, unforgiving game but the rewards are sweet if you can make them happen. Mentally I'm trying to keep it together as usual. Feeling a bit tired but there is still a week to go in the cycle. Never did get a chance to get some OEX calls. We are up against a downtrend line that is quite a few weeks old. If we somehow get through it in the next few days those GE calls might actually work. Remains to be seen. Bond market closed tomorrow but we do need a rest. We'll see...

The Dow was up 6 points today on light volume again. Advance/declines were slightly positive. We were up much higher and sold off at the end of the day. No trades here. Gold was up $5 and the XAU rose over 3 points. I tried to buy some calls on the XAU 4 times but never got filled. The uptrend line is holding and it looks like I have missed out on the XAU trade. The calls I sold earlier in the XAU and NEM are both much higher. I could not wait around when I sold them and that is part of the game. Well actually they are not much higher in NEM and I bought them again at a higher price near the close. My thought is that the gold shares will rally here into the expiration off of that trendline. We shall see. I wanted to be long something because I think this is the first day of the move. I don't know. My trading hasn't been sharp lately and it is very frustrating. It is my own fault. I am not putting forth the proper effort. There are no excuses. I just haven't gotten it together and I'm not paying attention the way I know I should and the way that is necessary for success. No excuses. GE was up a bit but there is still no bid on the calls and they are dead. I might get lucky again and get a nickel for them if someone needs to offset a trade the other way. Doubtful. So we will see what the trade number does and I really need to be better at what I am doing or I may as well not do it. It is a most difficult game and the effort has gotta be there or it's useless. I know this and will have to do my best to remember that.

The Dow lost 46 points on light volume. Advance/declines were negative. This si a market that wants to go higher, I think. I would like to get long any weakness. I think Thursday could be the day. We shall see. The GE calls have no bid now and that looks like a total loss. Perhaps if we get a rally I can get a nickle for them but that trade just never worked. I have been wrong on GE all year. It's not a lot of money but it is a loser none the less. Gold was up a couple bucks today and the XAU was down fractionally. There is no volume here and the interest has waned with the rise in the dollar. We haven't broken the uptrend line yet and are sitting right on it. The trade number comes out on Thursday and I will possibly buy some calls tomorrow if the trendline holds up tomorrow. It is an iffy play here but it could work. I'm not sure what I am going to do. No blog yesterday as I left at the close to take another hike. And that too could be a problem because I've got to pay attention with just a week and a half left before expiration. Sometimes the balance of the market and the rest of your life becomes uneven. Right now the market must take preference. The time is now, one way or the other. I've got tohave the discipline to do what must be done here and now. It is the only way. OEX calls are a good idea I think. We'll see if I get a chance. XAU calls are not as certain, I don't think but I might give them a try anyway. Until next time...

The Dow was up 8 points on light volume. We are perhaps running out of steam here. Advance/declines were negative. GE was up a few cents but the options are dead in the water. Gold was down another 4 bucks today. The XAU was lower but came back to be off a half a point. The uptrend line continues to hold and I would like to buy the calls again. It had every right and reason to break the line today and it didn't. I think this is bullish for the XAU. If we get some weakness on Monday back towards the line I will buy some calls. NEM was higher but those options are still less than what I paid for them. But I'm out of that trade. Volume on the gold shares was light but the volume on the XAU was quite a lot and I will check Monday to see if the open interest expanded. I think it did so something is up. There are 2 weeks to go and I think this will work. That is why I originally bought them. But I could be wrong as gold has broken the support at $460. Perhaps it is a fake out move, I don't know. I need to check the economic calendar also. Employment came out weaker but the dollar still rallied and that hurt gold. Yields are up also which is impacting gold. We'll see what happens. I'd still like to get long the OEX but we're overbought and I want to wait for some type of pullback. Mentally I need some rest as the trading is taking a lot out of me. The focus is returning but the discipline really needs to be worked on. There is money to be made in the next 2 weeks. I need to pay attention and take my shots. Patience is needed also which makes this such a tough game. I'll try my best and hopefully will succeed. I need to rest and check all the charts over the weekend and that's what I will do...

The Dow tacked on another 50 points today on good volume. Advance/declines were about even. We might be running out of steam here on a short term basis. We are right at the uptrend line though and that could hold for a while. Obviously I'm stuck without a clue. GE was up a bit but is not moving with the market so I will get screwed there. Gold was down 4 bucks and the XAU broke its short term trendline so I bailed out. I'm not happy. I would have liked to have the guts to hang on here but I couldn't. The volume wasn't there. I would still buy this back on more weakness and I will. The XAU calls showed a small profit, perhaps 30%. I dumped the NEM calls at the same time for a small loss, around 20%. There was less money in the NEM trade so it was minimal. I won't be buying this strike price back. So I'm stuck with a losing GE trade and am looking for a long entry on the OEX. Mentally I'm a bit confused but my overall thought was to bail out and wait to trade another day. I'm in need of a good nights rest and that should happen tonight. My trading is going nowhere at the time. I'm not pleased. The focus is coming back but the discipline is just not there. I've really got to get together. But it isn't easy. Tough game. Employment report tomorrow and it should be a mover one way or another. Until then....

The Dow gained 66 points today on good volume. Advance/declines were 3 to 1 positive. We are going higher. The summation index has turned upwards. I will buy some OEX calls on any pullback, It will work. GE was up just a bit today and that isn't good for my options. I really need to see GE get going here. I don't think this trade will work. Gold bounced back $4 today and the XAU was up 2 points. But the volume was weak and we have stalled at a downtrend line. I need to see us get through this line on good volume to feel good about this. NEM was up a bit on light volume. That is the key. Volume. We really need it to pick up here for gold or this trade will be a loser. Employment number on Friday and that could hold the key.

The Dow was down 33 points on good volume again. Advance/declines were negative. The Fed raised rates another 1/4 point. It was expected. I want to get long the OEX here but I'd like to wait a bit I guess. I think we'll see weakness going into the employment number on Friday. But I'm guessing. GE keeps dropping and soon there won't even be a bid on what I own. Another mistake. Gold went down another 4 bucks today and the XAU was off a couple points. We are at the moment of truth again for the gold shares and I'm not feeling good about it. I did buy some NEM November calls today because we are right at the trendline there also. The uptrend lines either hold or they don't and if they don't I'm out. With losses of course but you've got to take the risk when you feel it's right. Gold itself is at $460 and if it doesn't hold, I'm dead. This is where it has held before so we will see what happens. I'm not feeling all that confident though. And perhaps I've got too much money wrapped up in this gold idea. Time will tell. The fact that GE isn't working either could spell disaster for me. But there are 2 and a half weeks to go. I think now it's a waiting game until Friday so we will see. Mentally I'm not putting forth the effort necessary for success. It is plain and simple. Sacrifice must be made to be on top of things and I haven't been doing that lately. The blue book must be read every day and I haven't been doing it. My discipline is non-existent. I can't go on like this and have to get it together now. It is hard to do and my mind is just not into it. But it has to be. It is the only way. I need to shape up right now or I'm doomed. The effort must come back. The dedication and desire have to return or it's all over. We'll see what tomorrow brings...

The Dow was up over 35 points today on good volume. Advance/declines were 3 to 1 positive. We were up higher but sold off in the last hour. Could be end of month related but I'm not sure. GE was down around 20 cents after being higher also. This one really has to get going or it's over. It isn't moving higher when the overall market is and that is troublesome. I don't think this trade is going to work but I've said that before. Less than 3 weeks to go now. Gold was down big on Monday over $7. The dollar rallied. Somehow the XAU ended up in positive territory which is encouraging. But again it could just have been some end of month stuff. I'll know more tomorrow. Cutting this short today because I took the last 3 hours off today and I'm going out to dinner. More tomorrow...

The Dow reversed course again and was up over 170 points on good volume. Advance/declines were almost 3 to 1 positive. This thing just keeps going back and forth. It will break out eventually and I'm thinking it will be to the upside. At least that's what I'm thinking today. GE got back a little today but the options I own are still losers. 3 weeks left and I think that this will be close. I probably need to get out when I can. I was early and haven't traded GE well all year. Gold was down a couple bucks, the XAU fell but then came back and was higher on the day. That is a good sign. The calls I own are still in the black. But anything can happen and we are close to the uptrend line. If that breaks then this trade is dead. But it is holding for now and that was the basis for this trade so I am holding for now. Anything can happen. I feel rested for a change and the weekend is here. I am taking part of Monday off to head up to the mountains and clear my head out. Mentally I need a break and will do some work tonight and then just call it quits for a few days. My discipline needs work and I have to get back to consistent reading of the blue book. These things must be done for success. It doesn't just happen. You've got to make it happen. I'm working on it...

The Dow lost 115 points and the volume was good. Advance/declines were almost 3 to 1 negative. The market cannot get going. Summation index now pointing down. I can't figure it out and I don't know what to say. GE held up rather well but my options are losers and it doesn't look like that will change anytime soon. The XAU gapped open higher and lost all of its gains. Gold was up a couple of bucks. Negative action for sure. Tomorrow is important to see if the recent lows hold. My calls are still making money but that could change too. I'm tired today and need to get a good nights sleep tonight. My mind is a little slow and that just won't do. I need to get back to the basics and discipline, discipline, discipline. It's the only way. Pressed for time again today...

The Dow lost over 30 points on good volume. Advance/declines were over 2 to 1 negative. Looks like more sideways action for now. Can't seem to break out one way or the other. Who know, maybe we'll start to drop again. I have no idea. GE was down and the options are losing money and not moving. Gotta see something happen there soon but at this rate, nothing will happen except for more losses. Gold was down a little today but the XAU lost almost 3 points. My calls are still profitable but barely so. I had the order ready to sell them but did not enter it. That could have and probably will be a mistake. It was a pretty big turnaround today in the XAU, almost 5 points. And not in the direction that I needed. I still feel that the trendline will hold but it won't with another day like today. Perhaps I am wrong. It wouldn't be the first time. But sometimes you've got to believe in yourself. I maybe could have sold out today and then bought them back cheaper, later. But that's just a guess. It is a tough game, an unforgiving game. Mentally I'm tired and I haven't been feeling well but I'm doing better now. Will have to see what the next 2 trading days bring. That is the key for now...

The Dow lost 7 points on increased volume. Advance/declines were negative. We were down a lot more but came back in the final hour. No pending trades there. GE was down again and the options are not doing any better. I'm holding for now but I might have to think about where to take the loss. It is only Tuesday but this has got to start to get something going to the upside. Gold was up over $7 today but the XAU didn't do that well, only up a point and a half. The calls are doing good but it looks like it wants to head back down here. I'm holding on for higher prices in the next few weeks but that could be wrong too. Probably should have some type of stop-loss order in but I don't. My mind is tired. Not feeling well lately. Need to get some rest. Still believing it will not be a down year but the gains could be muted. They will be. Nothing more for today.

The Dow blasted off up 170 points today. The volume wasn't all that great but it was a Monday. Advance/declines were over 3 to 1 positive. The McClellan oscillator should be moving into positive territory today. I think the decline is over but I don't expect a straight up move from here. I do think we will rally once the Fed meeting gets out of the way. GE was up a little but my options are still under water. Plenty of time to go but I don't know. Gold was down a couple bucks but the XAU remained strong and was up a couple points. Those calls are in the black. Perhaps should have sold them here because we are short term overbought. But I'm waiting for higher prices and I think that will happen in the next 4 weeks. I could be wrong though and there-in lies the problem with trading. Ya just never know. I'm not feeling well physically so I am cutting this short today. Mentally I'm doing as good as can be expected at this point.

The Dow lost another 65 points today on heavy volume. Advance/declines were almost 2 to 1 positive though. Perhaps the move was expiration related. GE was down a few cents and the options I own are losing money. The are now cheap enough that I have the inclination to buy a few more. Could be a good move if we hold here and rally. Or it could be stupid. I don't think that I've done well in GE this year. I'll have to check the charts and the records. Gold bounced over 6 dollars today and the XAU was up almost 3 points. So far the trend line is holding. My calls there are profitable and there is plenty of time to go. The technicals are oversold too so this could turn out to be a decent trade. Or not. I get the feeling that a base will need to be built here and that could take a while. But I think that over time, as long as the uptrend line holds, this will be a winner. Physically I'm tired as I did not get a lot of sleep last night. That is affecting me mentally as my mind is groggy. Luckily there was not much thought for todays session on my part. I'm glad the weekend is here, I need to rest...

Volatility has returned. Perhaps the lows won't hold after all. Or it could be just an expiration phenomenon. The Dow lost 133 points today on heavy volume. Advance/declines were 3 to 1 negative. Crazy game. GE was off over 50 cents and the November calls I own are now losing money. I'm still a believer though. Long time relatively speaking there. Gold was down a couple bucks and the XAU actually fell hard and got to the uptrend line. I purchased some XAU November calls. It is now or never for this trade. My thinking is that the trendline will hold. If it doesn't, I'm out with a small loss. Hopefully, if I don't do something stupid. I perhaps could have gotten a little better price on the entry but you never know with those crooks on the Philly exchange. I don't really like trading there but I wanted a broader scope than just NEM or ABX this time. We'll see. Had to do it though because it was what I was waiting for. Oil seems to be breaking down here and perhaps gold will too. I don't know. It kinda has the feel like it could roll over and this trade will be a loser but we will have to wait and see. Another question is if the market itself will hold up here. Tomorrow will be interesting...

Well I thought that the recent lows would not hold. I was wrong. The Dow opened lower, bounced off those lows and gained over 125 points. It was the best day in a while. Volume was heavy and the advance/declines were almost 2 to 1 positive. I'll now say the decline is over. I don't think we will go straight up but I do think the year will end positive. GE was up around 40 cents but my call options aren't doing much. I think this trade will work too. Gold got pounded today, down over eight bucks at one point. The XAU was down over 3 points but recovered. I almost bought some XAU calls for October when it was down there but did not. There are only 2 days left on them. Also looked at some OEX calls this morning but did not do that either. Just did not take the chances but in retrospect should have. I'm not a short term trader by nature though. I will get long when the XAU gets to the trendline and it got close today. Might take another week to hit it. We'll see. Mentally I'm trying to focus. I did read the blue book today and that's a start. I need to get a good nights sleep again and perhaps that will happen tonight. Otherwise I guess it's just a waiting game for now.

Today we lost over 60 points on increased volume. Advance/declines were over 2 to 1 negative. We are going to head back down and test the recent lows and it doesn't look like they will hold at this point. I had a chance to get short early this morning but did not take the chance. I should have. The only good thing I can say was that I at least dumped the calls yesterday. The losses would have been greater if I had held on. GE has held up well lately and when this thing comes back GE could be a relative strength leader. Or we could just completely fall apart and it won't matter. I still believe in the year ending in 5 theory and I think we will be positive by December 31st. Gold was down a bit and the XAU lost over 2 points. I need to see where that trendline is because we could get there shortly. Hopefully it will hold, time will tell. I probably will not attempt any more trades this week but ya never know for sure. Mentally I feel good about my view of the market and it has been right on lately. But I need to make some money with these ideas. I'm not too tired and there isn't much else on my mind now that the dentist is out of the way for now. I'm going to have to get back into the good habits required for success. I'll try and start tomorrow with the blue book. I've got to find the time...

The Dow was up 60 points today on positive advance/declines. Volume was average. I sold the OEX calls I had for a loss. 20% and 5% respectively. I just could not afford to take the risk that tomorrow would be a down day and I would lose a lot more. My mistake here was that I had too much money in one trade. Overleveraged. My entry was a bit early and even though we have moved up over 100 points since the purchase it hasn't made any money. Of course I will be kicking myself if we open strong tomorrow, which is a possibility with good IBM numbers after the close. But what can ya do? The overall market has lagged the Dow the past two up-days and that isn't a positive sign. The volume hasn't been as strong going higher either. So I'm out and we'll see where I go from here. Still holding some November GE calls at breakeven. Want to keep them for a while. The XAU popped today for a couple points but I am going to wait for the XAU to get to the uptrend line if I can. Inflation report due out tomorrow and that will move things also. Sometimes you just have to get out of things that aren't working, no matter how much you want it to be right. I could not take the chance that tomorrow will open way down and my calls would be clobbered. Perhaps I will buy them again cheaper before the end of the week. But my work says that there is no great rally coming up now. I could be wrong. Maybe tomorrow I'll be glad I sold today. We'll see. Mentally, I'm OK but my mind is on the dentist tomorrow. Otherwise I'm fine but still need to get back in the habit of doing the day to day things that work for me. Like reading the blue book every morning. It needs to be done. Discipline cannot be emphasized enough.

We got a weak bounce today with the Dow up 70 points. Volume wasn't all that great but the advance/declines were over 2 to 1 positive. The daily candlestick chart looks constructive with a doji buy signal but that could change. I still am holding the OEX calls at a loss. Probably need to get out on Monday if we have any strength. I'll check the other numbers this weekend. Sold the GE October calls at around a 60% loss. Earnings were fine but the stock couldn't get moving that much in this environment. I guess it's better than taking a 100% loss but it still sucks. Gonna hold the Novembers for a while. The XAU sank early as gold was down but they both came back later on. Still going to get long the XAU or some gold shares when it gets to the uptrend line. Seems like there is interest in buying the gold shares on any dip. But for now I've got to focus on the overall market and specifically the OEX. I don't want this to turn into a big loser too. Mentally I'm tired and drained from the week. I could use a break. I really probably need to step back again and go over just exactly what is going on here. This is the toughest game in the world and you just have to be mentally prepared to deal with it. But for now it's time to rest and regroup for next week.

The Dow was basically unchanged today on good volume. Advance/declines were almost 2 to 1 negative though. We are extremely oversold. The calls I purchased are losing money. I expect a snapback but there is a chance this whole thing could collapse also. Tomorrow is important. GE announces its earnings and there is an inflation report. I expect anything at this point. I will get the hell out of these OEX calls if I get a chance. I will also exit the October GE calls if I can. When the indicators say one thing and the market does another then I have nothing to go on that is legit. I need to recognize this tomorrow and act accordingly. Gold did not move but the XAU was down big at one point but came back to cut its losses. I think it is a function of the Refco firm having trouble and hedge fund liquidation to meet cash calls. I will get long gold when it gets to the trendline, either for November or December. But right now the focus has to be on GE and the overall market. Mentally I'm a little tired and worried about a lack of a bounce here. My mind is focused and I will be up early tomorrow but the market will do what it wants. Interesting day ahead. Could be really good or a disaster. All eyes on GE.

The Dow lost another 36 points on good volume. Advance/declines were over 3 to 1 negative. I bought some OEX calls. I got some early and then bought a couple more later. My work tells me that we have to bounce here unless we crash. I don't anticipate that but you never know. We'll see tomorrow. But you have to step up when the time comes and I think the time is now. The OEX moves fast though and I'll have to stay on my toes. Bought some November GE calls also. Earnings on Friday and we'll see about that also. Missed on the XAU puts. Had an order in early and it didn't get filled. The XAU ended up down around 2 1/2 points. I do not like missing the move but I was concentrating on the OEX I suppose. Gotta get better than that. I will probably wait for the XAU to come back to the uptrend line and get long there. Don't know, not sure. Only thing for certain is that I missed this down move. Mentally I'm doing fine and really think the OEX trade will work out. Feeling confident about this trade. Have done the work and unless something out of the ordinary happens, it will be a good one.

The Dow was up 14 points on good volume. Advance/declines were negative though. I'm thinking of getting some calls tomorrow as a bounce is due. I will look to buy weakness. At least that's the plan for now. But the internals have been weak. We do have a divergence on the McClellan oscillator and some other indicators are oversold. I'm pretty sure that this will work. Short-term anyway. GE was down around a quarter today. Gonna wait for the earnings on Friday. Gold didn't do much and the XAU was down a bit. Would like to get some puts here and did have an order in today but it wasn't filled. Not sure about this one but the candlestick chart looks toppy. We'll see. Hard to short it here if the overall market is about to rally. Mentally I'm tired and need to get some rest. Feeling good about buying some OEX calls here. Feels like the same call that the puts that would have worked about a week ago. Maybe do it tomorrow. Trade number on Thursday and inflation report due out on Friday. Could get interesting. Gotta be careful and remain disciplined to be successful. Will try not to chase anything.

The Dow lost over 50 points and volume was pretty good for a Monday. Advance/declines were over 2 to 1 negative. I'd like to get long before Friday. Some OEX calls might be in order. If we et a non-conformation from the McClellan oscillator, I'll be purchasing some. That remains to be seen. GE didn't do much and the earnings are on Friday. We'll see how it acts going into that. Probably will hold on until then. Not sure though. Could be a sell the news event. Gold didn't do much today and neither did the XAU. Not a clear signal here but I did put in an order for some puts today. Did not get filled. Not completely sure that I want to trade this anymore for now. We'll see. I've got to check the charts and the economic calendar. Mentally I'm doing fine today. My mind is clear and ready to go. Opportunity is here until expiration. I've got to take advantage of it. Not a time to be lazy.

The Dow gained 5 points today and the volume was lighter than lately. Advance/declines were positive but the new lows were higher than the new highs. Mixed signals. I would still like to get long here with some OEX calls but am not sure. Employment came out and was stronger than expected. That sent the dollar higher but gold rallied also. The XAU was up almost 3 points. I bailed out of my XAU puts for around a 25% profit. The profit was much better a couple days ago and I should have sold then. I'm not happy with that trade. Will have to check things over the weekend to see what to do next. My trading leaves much to be desired. GE rallied again on good volume and the calls I own that were worthless at the beginning of the week are now back where I bought them. This trade now looks like it might work if the earnings are decent next Friday. Did not step up and get some November calls when I had the chance earlier this week also. My order did not get filled. Looks like I missed it. Maybe not as I might just buy some at a higher price after looking at things this weekend. Mentally I need a break because my trading has sucked lately. I'm glad it's the weekend. But this is a hard game to play and it requires a hell of a lot of work. I am trying to keep it together. But for now it's time to rest...

The Dow lost 30 points today on heavy volume. Advance/declines were 2 to 1 negative. We were down 100 points and bounced back in the last half hour. Oversold here but the action has been so negative I'm afraid to get long. Still might do it tomorrow on any weakness. Employment report early. GE had a positive announcement and was up 80 cents on heavy volume. There is a bid for my options again. Perhaps missed out on the November calls as my order wasn't filled yesterday. Wasn't sure on that one. Gold was up over $5 and the XAU rose over 3 points, gaining back what it lost yesterday. My options are still showing a profit but this could backfire. Tomorrow will be important. Might just have to get out. I need to make some decisions. Volatility has returned and this used to be when I was at my best. Perhaps missed a chance to get long the OEX today but we'll see. Gotta believe that I can do the right thing. Hope to tomorrow. Mentally I'm fine for now. But need to read the signs. Might have missed my chance with the XAU profit. Probably have to be up for the open tomorrow and take it from there. Could be a long day. Must be mentally prepared. Ideas seem to be working. Need to check the McClellan oscillator tonight. Might not confirm the buy signal. Tough game.

The Dow sunk over 120 points. Advance/declines were over 4 to 1 negative and the volume was heavy. I thought we would get a little pullback here but this is more than I expected. Something is going on here and I don't know what. GE was down a bit but the options don't have a bid anymore. They're dead I think. Unless we get an amazing turnaround. But when it's this negative I don't know what to say. Sure wish I would have stepped up and bought the puts yesterday when I had the chance. But you can't go on what you wish you would have done. That's a losers game. At least my idea was right. Might try and get long before the employment report because we are going to be blown out to the downside. But I don't want to step in front of this. Might do it though. Gold did not move today but the XAU was down over 3 points and the puts there are looking good. Looks like gold could be heading lower here. Want to take the profit soon though as we are looking for support in the near term. Don't know for sure but I'll check the charts later tonight. Don't want to hold them forever and may sell them and then buy them back cheaper. Had an idea about getting long Pfizer but the market action here is very negative. Mentally I'm trying to do what it takes. But this is the toughest game in the world. Cannot forget that. My mind is coming back to the discipline it needs but tomorrow is another day. Gotta do the right thing. Will try and get long at the trendline perhaps. More work needs to be done tonight...

The Dow lost about 95 points on expanding volume. That is never a good sign. Advance/declines were about 2 to 1 negative. Expected some pullback and got it. I don't think this is the beginning of something big but who knows? Best case scenario here would be to build a base. GE was down again on better volume too. The calls are just about dead. I suppose I had better sell them and perhaps go out to November if I'm still a believer in this trade. Not sure now. Earnings a week from Friday. Don't think I can wait that long. On the bright side, gold didn't move today but the XAU was down 2 points. My puts here are in the money. I don't own a lot of them but at least the ideas are right. Really should just get out of the GE trade and move on. Looking to hold the XAU puts for a little while. Two and a half weeks to go there. Mentally I'm trying to come together. Thinking that this will be a good month. Gotta have the discipline and do the work. Easier said than done. Almost bought some puts this morning and should have. I am possibly developing a short term trade timeline. Would have worked today but the commission costs could be prohibitive. We'll see.

The Dow lost over 30 points today on average volume. Advance/declines were positive though. I still feel we are heading down for a while here. Until the employment report at least. Need to get some negatives on there to work off the overbought situation. GE was lower today and this trade is just not gonna work. Volume picked up to the downside and that is never good. I should probably just take the loss and go out to the next month if I feel this trade is worthy. Gold lost a few dollars and the XAU fell a couple points early but then came back. Volume was average. Not sure what to do here. The options are slightly profitable. I don't have a stop-loss order in yet. Had I placed one today, I would already be out of the trade. I still feel that this one will work good before the expiration but who knows? Mentally I'm trying to keep it together. My mind still hasn't gotten back to the discipline necessary for success. I really need to work on that. It is essential to the cause. I should probably cut back on the trades until my mind is right. I'm working on it. I think there is some good money out there to be made this month. We'll see...