Tuesday, June 21, 2005
The Dow lost about 10 points today on average volume. Advance/declines were slightly negative. Not doing much here as the doldrums seem to have begun early. But it is the first day of summer. Gold sold off overnight and then came back during the day. The XAU sold off early also and then ended up positive. I placed some orders for July gold calls for NEM and ABX. GTC orders and I think I'll cancel the ABX because the chart looks better for NEM. Obviously they were not filled yet. I want to be careful and not over-leverage this position because you never know. As good as the charts look, in this game anything can happen. But for some reason gold seems to be strong here and holding up well. I think it, like the overall market, wants to go higher. Mentally I'm feeling good. Nothing clogging up my brain for now and the necessary focus is back. I think I'll be OK. You've got to remember, it takes a lot to be successful in the game. You can't put forth a less than best effort. The competition is fierce. There are no free rides. Success requires so much more than most people know. That's why there are so few who can actually do it I guess. I'm trying my best to do the right things. It isn't easy. Almost time for a mid-year review.
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