Wednesday, March 29, 2006
The Dow bounced back and was up over 60 points today. Volume looks like it was a bit better than yesterday and the advance/declines were about 3 to 1 positive. Perhaps the decline yesterday was a one day wonder. Time will tell. The end of the month is upon us and maybe that is bringing in more money. Gold actually came back and was up over 2 bucks today. The XAU rose over 4 points. And I'm kicking myself for selling the calls yesterday. But not too hard because you just never know. But ABX was up over 60 cents today. Now perhaps this trade would have worked like I originally thought but what can you do? I'm still holding the cheaper purchases but I sure would like to have them all now. But I'm not going to lament over what has happened, I've got to just keep moving on. I already have big losses for the year so I'm going to try and do the rest of this trade correctly. Todays gold action was on lighter volume but perhaps all the sellers are gone for now. The action was very positive. We'll see how the week closes out there. Still 3 weeks to go after this one and I should have taken that into consideration yesterday. But I was early there and put too much money in it. Mistake compounded by mistake. Trading isn't easy. Mentally I'm trying to stay steady amidst the ups and downs lately. This is a crazy game. I've got to get my act together fast. I will try and get back to the things that are necessary for success tonight. The work never stops. Back to gold itself, we are up to the resistance at $575. A break through there will be interesting but it hasn't happened yet.
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