Tuesday, August 09, 2005
The Dow rose 79 points today on average volume. Advance/declines were positive but not as much as an up 75 market would indicate. I think the trend is down and a signal has been given by the summation index. OEX puts can be bought on any more strength I believe. Gold did not move and neither did the XAU. The calls for NEM are hanging in there but any adverse move tomorrow and they're done. Not sure where that is going now but I'm still gonna go with the breakout scenario. A better idea might be to scale out of this on any upmove to protect capital. Hard to say. Fed rose another quarter point and the statement was the same old thing. Next news is on Friday with the trade number. I have no clue as to what that will be. Mentally doing OK. I'd really like to do well here but the market rarely cooperates with what one wants. I'm getting back into the reality of the game and that is good. I'm keeping up with the work that needs to be done. Tomorrow perhaps is the key, we shall see...
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