Tuesday, April 25, 2006
The Dow lost 53 points today on average volume. Advance/declines were negative. The summation index is pointing down again. I still think we will get more drift than anything else right now. But you never know. Gold was up over $10 today but the XAU rose only a point. This portends lower prices to come. I might want to short the XAU here soon. We'll see. I haven't been doing the work as diligently as I should be right here. Too many outside things going on that need to be curtailed. I'm also tired from walking and playing golf yesterday. I didn't sleep well either. I need to get back on track and will attempt to do so starting today. The readings must be done and the charts must be checked. I'm mentally out of it at this point. The markets will not wait for me. They will do what they want. Which helps make this the toughest game in the world I think. You've got to pay attention all of the time. There are no shortcuts. You either put forth the effort and do the work or you perish. It's totally up to you. You're either up to the challenge or not. Why do you think so many can't do it? Because it's easy? Once you know what is required for success, you either keep up or you are just fooling yourself. And that gets expensive. So just do the work, give it your best shot or find another way to spend your time.
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