Friday, June 02, 2006
The Dow lost 12 points on average volume. Advance/declines were 2 to 1 positive. The overall market was higher. The market is going up, plain and simple. Bonds rallied big on weak job numbers. I don't have any OEX trades in sight for now. Gold was up over $5 and the XAU rose almost 2 points. I'd like to get long here but it might be too late. NEM is leading this time. I don't really know what exactly to do here so I'm on the sidelines. Treading lightly. I think if we get a pullback in the market, I'll get some OEX calls but who knows? Right now it doesn't look like a pullback is in the cards. The weekend is here. I'll be taking it easy. Mentally I'm having some trouble coming up with a good trading scenario for June. I just don't see any solid set-ups right now. And I don't want to get into a short term mode. It burned me last month. Perhaps I'm just hesitant from the last few losing trades. Whatever the case, I won't be making any money while I'm in this funk. I need to get it together but it might take a while. Perhaps waiting for my vacation to pass will be the best course of action. We'll see.
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