Friday, March 17, 2006
The Dow rose 26 points today on good volume. Advance/declines were positive. It wasn't a volatile sessions, even with the option expiration. We are overbought and I wouldn't be surprised if Monday was a down day. Gold was little changed and the XAU didn't go anywhere either. ABX was up about 50 cents at one point and my options were in the black. But it sold off at the close and was basically unchanged. I didn't like the action. It doesn't bode well for early next week. Perhaps I should just get out of this trade and maybe today was my chance. But I will give it the 2 weeks that I said I would. Obviously my timing wasn't that good at the entry. This whole thing could blow up on me if we don't see some movement to the upside next week. It isn't the best of trades at the moment. You somehow have to keep going in this game. It is frustrating at times and this is one of those times. Mentally I'm doing what it takes as far as keeping up with my readings of the blue book and various magazines looking for insight. I am learning what I can but it is a mental game at this point, internally. I'm doing what I can. I will be taking off early on Monday to take a hike. I'm hoping it will clear my head out and then I'll be ready to continue the game. I'll check the charts over the weekend but I already think that they won't be bullish. I'm going to try and relax but we'll have to see what happens...
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