Tuesday, October 11, 2005
The Dow was up 14 points on good volume. Advance/declines were negative though. I'm thinking of getting some calls tomorrow as a bounce is due. I will look to buy weakness. At least that's the plan for now. But the internals have been weak. We do have a divergence on the McClellan oscillator and some other indicators are oversold. I'm pretty sure that this will work. Short-term anyway. GE was down around a quarter today. Gonna wait for the earnings on Friday. Gold didn't do much and the XAU was down a bit. Would like to get some puts here and did have an order in today but it wasn't filled. Not sure about this one but the candlestick chart looks toppy. We'll see. Hard to short it here if the overall market is about to rally. Mentally I'm tired and need to get some rest. Feeling good about buying some OEX calls here. Feels like the same call that the puts that would have worked about a week ago. Maybe do it tomorrow. Trade number on Thursday and inflation report due out on Friday. Could get interesting. Gotta be careful and remain disciplined to be successful. Will try not to chase anything.
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