Tuesday, December 13, 2005
The Dow rose 55 points today on good volume. Advance/declines were positive. The Fed rose rates again and the market took off on the language of the statement. Which was bearish by the way. Go figure. I don't think there will be a trade for me now in the OEX or SPX but who knows, I do some crazy things sometimes. Perhaps if we get some weakness tomorrow but the risk here is a lot. I probably should look to go out to January with my GE idea and leave it at that. But perhaps I'll do something on a very short term basis if a signal comes through. GE was down a nickel on good volume. Gold sold off but the XAU hung in there. I'm going to wait for it to get back to the trendline. Overbought in all time frames. No need to be in a hurry there but that market has drawn a lot of interest and can't be ignored. Mentally I'm a bit tired from last nights dinnerfest and booze. Not the kind of situation for trading. I'm going to rest up tonight and just take it easy. That will help. I need to rest and I know it. I will try not to force things here but I get the idea that the market will run up into the expiration. Inflation number on Thursday. Trade number tomorrow. The smart thing to do here is probably just sit it out. But there will be some money to be made so..... But for now, rest.
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