Friday, June 30, 2006
The Dow lost 40 points today and the volume was pretty good. Advance/declines were over 2 to 1 positive. Most of the action came in the last hour due to the end of the quarter moves. Overall the market seems stronger now and the summation index is pointing upwards. So higher prices are probably on the way. How high, I don't know. Gold took off today, up over $27. Probably due to the weaker dollar and perhaps because of some Osama noise. The XAU rose over 2 points as it had most of its gains yesterday. Volume wasn't like it was before but it is the summer and money seems to be heading back into gold. I'll have to keep an eye on it when I return from vacation. A long weekend is coming up and a Monday session before the July 4th holiday. The markets really won't get back going until next Wednesday. By then, I'll be on vacation for 2 weeks. I will try to just stay away from the day to day market happenings and enjoy myself. I really think that is what's needed. There is nothing I can do about the first half of this year. It wasn't pretty. I made numerous mistakes and had some pretty big losing trades. It seems like I always did the wrong thing at the wrong time. I did a couple things right. But my trade win % sucked. I really need to come back strong in the second half. I have before, so it's not out of the question. But I can't continue the way things have been going. I really need to step it up and make the right decisions. Trading isn't easy and I really make it hard sometimes on myself with bonehead moves. I'll work on it. For the first half of the year my trading account was up 22%. It should have been a lot higher. But there will be no looking back now and I'll look forward to a successful second half.
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