Wednesday, February 08, 2006
The Dow rose 108 points on good volume. Advance/declines were positive but not a lot for an up hundred market. My order for calls wasn't filled. And so it goes. You somehow must persist in the face of frustration. It's tough. I am now looking to get some puts at the downtrend line. But I'm not sure that this is the right play. The market had to rise here. I know it sounds all knowing but looking at the numbers that was what had to happen. I don't know how long it will last but it actually could be the start of a decent move. However the overall market is weaker than the Dow. Sometimes the Dow will lead, I've seen it before. I don't know if this is one of those times. You can only know after the fact. I'll short it at the downtrend line and if it breaks to the upside, I'll get out. It's all I can do at this point. Perhaps I got too cute trying to get in but I really think my fear of losing kept me from getting filled. It is the aftermath of the last lousy trade coming back to haunt me. The time was right but I just didn't get it. Now we'll see what happens tomorrow. Hopefully we go right up to the line. But there is more room to the upside. Gold was down a bit, the XAU tried to rally but couldn't. Perhaps will make a play there but I doubt it for now. I need to get more sleep, mentally I'm not feeling well after missing this trade. I have to somehow put it behind me because there is still time to make some money in this options cycle. It pains me to just miss out on trades more than it does to lose money. It just goes to show you how much work there is left that needs to be done...
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