Wednesday, December 14, 2005
The Dow was up 60 points on a little less than average volume. Advance/declines were positive. No trades. I am trying to stay out of the indices before Friday. Gold got clobbered and the XAU was down over 3 points. I should have shorted it the day it was up $10 and then sold off. I wasn't paying enough attention. GE was higher and the volume was good. I want to go out to January on this issue but will wait for some weakness. However that may not happen and the technicals are oversold. We'll see what happens. I want to do it though and will if I get a chance. I'm not feeling well, I have a slight cold. This in turn is affecting my view of the market. So I'm staying on the sidelines for now. It is probably the best thing to do. Looking to get long GE and that is about it for now. Will keep an eye on the XAU for the uptrendline. Options expire on Friday...
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