Wednesday, June 15, 2005
The Dow was up 20 points on better volume. Advance/declines were positive. We were down early and came back. Still in a tight range and we will break out one way or the other. Still leaning to the upside. Gold was up a couple bucks and the XAU gained back what it lost yesterday. NEM was a bit higher on lighter volume. I probably should have sold out today. But there is a chance we will breakout right here so I placed a stop-loss order and left it at that. The XAU gapped up and then hung around. This trade will be profitable unless we gap down tomorrow, which is possible but I'm not thinking it will happen. Or we could gap up again and through the resistance. Or nothing will happen and I'll get stopped out at a profit. At least I had the brains to put in the stop-loss order. There are only 2 days left. Hectic but this is where the money is made sometimes. And lost. Could have maybe got some OEX calls but the risk is even more than this NEM trade. I'm out tomorrow, one way or the other.
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