Tuesday, November 08, 2005
The Dow lost 46 points on light volume. Advance/declines were negative. This si a market that wants to go higher, I think. I would like to get long any weakness. I think Thursday could be the day. We shall see. The GE calls have no bid now and that looks like a total loss. Perhaps if we get a rally I can get a nickle for them but that trade just never worked. I have been wrong on GE all year. It's not a lot of money but it is a loser none the less. Gold was up a couple bucks today and the XAU was down fractionally. There is no volume here and the interest has waned with the rise in the dollar. We haven't broken the uptrend line yet and are sitting right on it. The trade number comes out on Thursday and I will possibly buy some calls tomorrow if the trendline holds up tomorrow. It is an iffy play here but it could work. I'm not sure what I am going to do. No blog yesterday as I left at the close to take another hike. And that too could be a problem because I've got to pay attention with just a week and a half left before expiration. Sometimes the balance of the market and the rest of your life becomes uneven. Right now the market must take preference. The time is now, one way or the other. I've got tohave the discipline to do what must be done here and now. It is the only way. OEX calls are a good idea I think. We'll see if I get a chance. XAU calls are not as certain, I don't think but I might give them a try anyway. Until next time...
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