Monday, November 14, 2005
The Dow went up another 11 points today on light volume. Advance/declines were negative. Not a good sign if you're long. GE was down and the options are almost worthless again. For some reason I still believe we could have a good run up into the expiration taking GE along with it. I must be crazy. Gold was down a little and the XAU lost almost a point and a half. NEM was down and the options I own are worth half of what I paid for them. Trouble. 4 days left and it will take somewhat of a miracle here. I haven't completely given up on them because I've seen some strange things happen expiration week. But I also know NEM could just move sideways here and that would kill me. The weekly has a good look to it but that doesn't necessarily mean this week. Tomorrow will be important for both issues. Mentally I'm fine, gotta lot of rest last night. No other trades for this week in my mind at the moment but that could change. I'm leaning towards the plus side. Inflation reports this week. I'm thinking they will be weak and the dollar will fall, supporting gold and driving the market higher. Could be wishful thinking. We'll see...
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