This blog will describe Jimmybees latest Market thoughts. It also will include thoughts on Jimmybees ongoing trading.
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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