An interesting day as the Dow sold off early and then came all the way back to close up around 55 points. Advance/declines were slightly positive and the volume again was good. I'm not sure what to make of it. I'm not convinced that it is for real. The Bollinger bands on the daily OEX chart are very tight, which implies a big move one way or the other. The summation index is still pointing down. Tricky call. Gold was down another buck and a half today. However the XAU, NEM and ABX were all up. Not a lot mind you and the volume wasn't as good as it has been recently. I'm going to let a bottom build there. GE was up around 30 cents. Those calls are still looking good. I got filled on the Intel calls this morning. This too came all the way back but then sold off again. It has to hold right here or the uptrend line will be broken and it will be a loser. Volume was heavy so perhaps the sellers have sold out here but that is just a guess. And a hope. Pfizer was down, no trades there. I read something last night that said that money management was the most important part of trading. It is important but I feel it is not the most important. Let me ask you, if you lose all of your trades, what difference will good money management make? Successful trading requires more skills than just good money management. The trades themselves are the most important. If you can't figure out how to trade it doesn't matter how much money you have because you will lose it all. Someone with a small amount of money that knows how to trade will fare better than someone with a lot of money that doesn't. There is no most important part of trading. It's all important...