Tuesday, November 29, 2005
The Dow lost a couple points today on good volume. Advance/declines were positive. The market was higher earlier and gave it all back. I'm still looking to buy some calls if and when we get to the uptrendline. Could be tomorrow. I'll try and be ready. If we break the line, well we'll have to see what happens. Summation index still pointing higher. Gold was about unchanged and the XAU fell a bit. I would like to stay clear here but again, I'm not exactly sure about what course of action I will take. Gold is overbought and broke a sort-term uptrend line today. I'm still going to look at the January 120 calls. We need a pullback though. GE was basically unchanged and I'd like to get some calls when it gets to the trendline. So the gameplan for now seems to be to wait for trendlines to be hit. Mentally I'm feeling good and seem to have an idea of what I want to do here. Gotta follow through and pay attention. Discipline is always a key. Employment report on Friday, could be a mover. Looking forward to the next trade. That's what winning can do for you. Put you in the right frame of mind.
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