Monday, May 09, 2005
The Dow was up almost 40 points on light Monday volume. Advance/declines were 2 to 1 positive. Just can't keep this market down now for some reason. I'm looking to get some OEX calls but really need to wait for a pullback, even a mild one. I'm thinking perhaps by later in the week I'll get a chance but maybe not. Gold didn't move and the XAU was up a tad on light volume. Oil was up over a dollar today. The overall market did not respond. The dollar was stronger. Critical juncture in the dollar right now. Looks like it wants to break a multi-year down trendline. We'll see. That would not bode well for gold if it happens. I'm going to stick with my get long the OEX before the expiration next week theory. I won't go overboard with the number of contracts. Summation index still pointing up and that's a plus. My mind is again getting focused on the business at hand but it's tough. I've got to somehow reign in the wandering that's going on there and get my act in the markets together. It's really been a battle lately. It's not usually as bad as it has been recently. It is always me versus myself in this crazy game. No doubt about it and that's not going to change.
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