Monday, September 19, 2005
The Dow lost 84 points on pretty good volume. Advance/declines were 2 to 1 negative. Could be post expiration action or who knows? Gold was up over $7 today. The gold shares rallied but then fell off to finish negative. I wanted to get some NEM puts but was too slow once again. My ideas are good but the trading leaves much to be desired. I'm hanging in there. I still think this might work but not sure. We do need a little rest in gold. Fed announcement tomorrow. Probably more of the same but I really would like to get short something here. Way overbought on all the gold shares. I think it's gonna work but it is a matter of if I'll get in or not. Might leave an overnight order just in case. But then might not want it. And so it goes. The most difficult game in the world and I'm immersed in it. But lately, I'm just not up to the task. It seems like an endless crack in the record here. Really have to get it together now and I will. Can't keep making up excuses or what have you. It's always been up to me and always will be. I need not look any further. Getting back to the trade, today was a one-day reversal for the gold shares and portends lower prices or at least some sideways action. I'm going to look to get short and hopefully take a quick profit. Probably will leave an overnight order now that I think about it. That's it for today.
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