Wednesday, November 09, 2005
The Dow was up 6 points today on light volume again. Advance/declines were slightly positive. We were up much higher and sold off at the end of the day. No trades here. Gold was up $5 and the XAU rose over 3 points. I tried to buy some calls on the XAU 4 times but never got filled. The uptrend line is holding and it looks like I have missed out on the XAU trade. The calls I sold earlier in the XAU and NEM are both much higher. I could not wait around when I sold them and that is part of the game. Well actually they are not much higher in NEM and I bought them again at a higher price near the close. My thought is that the gold shares will rally here into the expiration off of that trendline. We shall see. I wanted to be long something because I think this is the first day of the move. I don't know. My trading hasn't been sharp lately and it is very frustrating. It is my own fault. I am not putting forth the proper effort. There are no excuses. I just haven't gotten it together and I'm not paying attention the way I know I should and the way that is necessary for success. No excuses. GE was up a bit but there is still no bid on the calls and they are dead. I might get lucky again and get a nickel for them if someone needs to offset a trade the other way. Doubtful. So we will see what the trade number does and I really need to be better at what I am doing or I may as well not do it. It is a most difficult game and the effort has gotta be there or it's useless. I know this and will have to do my best to remember that.
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