Tuesday, October 04, 2005
The Dow lost about 95 points on expanding volume. That is never a good sign. Advance/declines were about 2 to 1 negative. Expected some pullback and got it. I don't think this is the beginning of something big but who knows? Best case scenario here would be to build a base. GE was down again on better volume too. The calls are just about dead. I suppose I had better sell them and perhaps go out to November if I'm still a believer in this trade. Not sure now. Earnings a week from Friday. Don't think I can wait that long. On the bright side, gold didn't move today but the XAU was down 2 points. My puts here are in the money. I don't own a lot of them but at least the ideas are right. Really should just get out of the GE trade and move on. Looking to hold the XAU puts for a little while. Two and a half weeks to go there. Mentally I'm trying to come together. Thinking that this will be a good month. Gotta have the discipline and do the work. Easier said than done. Almost bought some puts this morning and should have. I am possibly developing a short term trade timeline. Would have worked today but the commission costs could be prohibitive. We'll see.
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