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