Monday, April 24, 2006
The blog will be early today because I'm playing golf. The Dow can't get moving today and is down around 6 points at the moment. Volume is nothing special. Advance/declines are decidedly negative. I would like to get short but the options are expensive and we have been moving sideways for weeks. Gold lost $12 today but the XAU is only down a point and a half. Trying to stay away from here for now. Same problem with overpriced options this soon into the expiration. I would expect the XAU to drop a lot more with that move in gold but it isn't happening. Usually it means higher prices in the near term. We'll see. Otherwise nothing to report. Mentally I'm doing OK. I need to keep at it. Discipline is necessary. So I'm keeping an eye on things and we'll just have to see how it all pans out. No trades really on the horizon but that could change. I'd like to wait a week but who knows? Dow looking at unchanged now and it is run in place type of day...
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