Tuesday, November 22, 2005
The Dow up another 50 points or so today on good volume. Advance/declines were positive. Not seeing any pullback to get long. Way overbought and the positive holiday trend is upon us. I'll look for an opening but I'm leary of anything at this point. GE was down a few cents but the options didn't lose much value. Might want to play this again. Gold was up another $4 and the XAU gained a point. This thing is going parabolic and I am afraid to get long here but it looks like it could go on forever. It never does. I'll have to fight myself on this one. I'd like to get in another good trade before the end of the year as my confidence has returned. Mentally I'm doing better but I did have a tooth pulled today so I'm not at my best. Got some sleep last night and will do so again tonight. The markets should slow down the next 2 days with a shortened session on Friday. Thursday off for Thanksgiving. I'll wait for some weakness before committing to the next trade. I should really try and take it easy for the next few days and I will while looking forward to next week and the beginning of December. Gameplan to get long GE and the OEX on weakness. I'll try and stay away from gold. At least that is the thought for now. Could change at any time.
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