Wednesday, August 31, 2005
We got the beginning of a rally today with the Dow up around 70 points. The volume expanded, which is a good sign and the advance/declines were 3 to 1 positive. We are heading higher. OEX calls can and should be purchased. They will run it up in the beginning of September. Gold was up over $3 and the XAU gained over 2 points. The volume wasn't that great but the price movement was in the right direction. I have some open GTC orders for NEM. Don't know if they will be filled, perhaps I have missed this move. We'll see. Markets are still coming to grips with the effects of hurricane Katrina. I really need to get it together and pay attention right now. There is money to be made. My mind has been slow since the last bad trade but that needs to be set aside and trading must begin anew. Mentally I've got to get it together now. Employment report on Friday. Gotta get long something I believe. Trying my best but need some sleep here too. Tough game and I've got to be ready for it.
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