Thursday, March 23, 2006
The Dow lost 47 points today on light volume. Advance/declines were about even. It seems like the market wants to go higher. Gold was down a bit but the XAU rose 2 points. That could bode well for the gold market. However ABX did not participate and was down a dime. And there lies the problem. Once again the gold market is moving to the upside but the particular stock that I'm in isn't moving. It's happened before and it is very frustrating. But it brings out an important point. You gotta stick with the indexes to guard against this very thing happening. I learned this a long time ago. There is less of a chance for manipulation. I can't explain why ABX isn't moving along with everything else. I am going to have one of my biggest losses with this trade. I don't think it will be moving back to the upside strongly. I think at this point it will linger in a sideways motion. There is nothing left to do but take the loss. There are 4 weeks left but I don't think that will help. The fundamentals are not in it's favor now. I blew it. I don't know if I can recover for the rest of the year. It will be hard for me to go on. Mentally, I'm spent. There is way too much going on outside of the markets in my life to be able to cope with it all right now. This is the time to step back from trading but unfortunately I'm in up to my neck. I've got to go back to square one. I need to learn from this debacle and do the right thing from here on out. It isn't going to be easy. So I'll just have to takwe it from here and see where it takes me. There are no excuses. I screwed it up...
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