Friday, June 24, 2005
Down another 123 points on the Dow today on average volume. Advance/declines were almost 2 to 1 negative. I don't really know what is going on here but the breadth hasn't supported a move down like this. We are oversold here also on a short term basis. But the summation index is rolling over and that is a worry. I'm on the sidelines. Gold was down a couple bucks today but the XAU was higher. The volume wasn't all that great but there seems to be no sellers. I really want to get long here but am not sure about the technicals at this point. We remain in overbought territory. I will probably do something next week but you never know. Gold has been in a disconnect so there is nothing to cue off of at the moment. On the sidelines here also. I have nothing else on the radar screen right now. Mentally I'm just taking it day to day as my mind again is wandering off to la la land. I am trying to get a handle on it but it seems like it is impossible. I did not expect something like this to happen so I am having trouble dealing with it. It is very important to get this straightened out one way or the other. I have to be honest with myself. It is affecting my trading. I cannot run away from it, it's always there. It has got to be dealt with and sooner rather than later. What can I say? Emotions are part of the game. They have to be handled effectively. But this is something that really has me questioning a lot of things. My feelings really need to be addressed. How to go about that is a question with no answer right now. I'm working on it.
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