The market moved around and went nowhere today. The Dow was up 7 points on good volume. Advance/declines were positive. The employment report was weaker than expected. I'm looking for weakness near term for the market. We are overbought again. Bond yields went down and so did the dollar. Gold was up about five bucks but the XAU did not follow. The XAU was up around a half, with both ABX and NEM up slightly on light volume. I'd like to get some gold calls but not yet. GE was down a little today. I still have the open order for March calls. Perhaps it will get filled next week. Intel was up strong on heavy volume. The options I have lost a third of their value from the high first thing this morning. Intel lost around 60 cents from the open. The calls are still in the black and perhaps a stop-loss order would be prudent this time for a change. Maybe I could buy them back later. However the original plan was to hold them until January. I'll mull it over this weekend. Pfizer was down today. Perhaps the tax loss selling has begun. There might be some tax loss selling in Intel also. I'm not sure. I'm still believing that next year will be a good one for stocks and will try to position myself for that this month. 2 weeks left in the option cycle. Barring some stupid moves by me or a market collapse, this will be a profitable trading year for me. Even with all the stupid moves and mistakes by yours truly. Will wonders never cease???
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