Monday, January 23, 2006
The Dow gained 21 points today on average volume. Advance/declines were positive. I think we will see some sort of bounce here but a weak one. The summation index hasn't turned down solidly just yet. Gold didn't do much that I could see and the XAU was flat. Might want to short that here soon but I need to start watching it closely again. A nice break for the weekend and the options a re all priced high now after expiration so I'll be on the sidelines until a decent signal appears. Still smarting after last weeks debacle but I'm not one to dwell on it now. There is a lot of time and money left for this year. Hopefully I've learned from my past mistakes. Hard to say but we'll see. No clear ideas at the moment. Would like to see a snapback to the uptrend line that was broken on a daily basis Friday. Might try the SPX instead of the OEX if I can afford it this time. We'll see. Mentally I'm trying to keep it together as usual. Not feeling too sorry for myself as that won't serve any purpose. Just have to dust myself off and keep on going. Taking off early tomorrow to go hiking so the blog may not happen. I don't think there is much going on this week. Fed meeting sometime before the end of the month. Just coasting for now but keeping an eye on things as it must be...
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