Thursday, June 30, 2005
The Dow lost 100 points on increased volume. Not a good sign. Advance/declines were negative but not as much as a down 100 market would indicate. But you can't argue with the price action. Fed raised another 1/4 point. Might be end of quarter profit taking. We'll see tomorrow. Things should slow down for the next 2 trading sessions due to the July 4th holiday. Gold was down a couple bucks and the XAU lost a point and a half. NEM and ABX got clocked and the NEM calls lost most of their profit. Bearish candlestick pattern now on these charts and I will have to make a decision tomorrow depending on the price action. Yesterday could have been the last blow-off gasp to the upside for these issues. Don't know but it is possible so that scenario must be counted. Weekly charts are about overbought so that's another factor. I'll decide tomorrow I guess. Always easy to look back but let's not waste time with that. Mentally I'm feeling pretty good. I've come to grips with what has happened to me lately and that's a good thing. Gotta use my head on this one and not be such a drama queen. I'll try and make it work but if it doesn't I'll be thankful for the opportunity. I can only control my own thoughts and that is what I'm going to do. Try at least but now I actually think I can do it. The first half of the year is over and although I made many mistakes and had to deal with some major mental stuff, I did pretty good. I did miss some great opportunities and I'll try to do better in the second half on that. More tomorrow...
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