This blog will describe Jimmybees latest Market thoughts. It also will include thoughts on Jimmybees ongoing trading.
Friday, June 17, 2005
The Dow was up about 45 points today on heavy expiration volume. Advance/declines were almost 2 to 1 positive. We continue higher as expected but I wouldn't be surprised at a pullback now that the options have expired. We are overbought and may have a divergence on the McClellan oscillator. Gold was up another 2 bucks today and the XAU gained half a point. NEM made up another 30 cents or so. I did leave some money on the table but I did not think the overnight risk with one day left warranted holding on to it. It was a tough call but I think I did the right thing and would probably do the same thing again given similar circumstances. But for some reason I am never satisfied with the results unless they are perfect, which they never are. I am always trying to get better at the game. That's the way I am. I'm not going to beat myself up over this trade but... Could and should I have put more money into it? Yes, with proper risk safety nets. At the time of the beginning of the trade, I was just trying to get focused back into the game. Having just missed a couple of great opportunities the month before, I was just trying to take advantage of a perceived idea. My mixed up emotional state that had been hindering me for the previous months was beginning to fade. I was getting a better grip on that. But it hasn't completely gone away. I'm working on it. Perhaps I'll have more to say about that over the weekend.
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