Friday, June 09, 2006
The Dow lost 46 points today on average volume. Advance/declines were negative. I still am holding my OEX calls. They are showing a loss. I really should have sold them today but I didn't. And therein lies the problem. I had a chance to get out without a loss and I didn't take it. We are up against a downtrend line and I think we can break through it. But if we don't, I'm dead. So I'm probably dead. No discipline. I really need to get my act together. But it won't happen with this trade. I don't know why I can't do what's necessary when the time comes. It is frustrating. The market tone has changed and I must adjust to it. I know this yet I just can't see to bring myself to do it. That has to change or I might as well forget this. The market came back big yesterday and there was no follow through. That isn't bullish for the market. I needed to get out, that's the bottom line and I didn't do it. I'll suffer for it next week. Gold was down a buck and the XAU was off a point. We are at the trendline that has held for weeks. Next week will be key. I think we will hold but do I want to attempt a trade there? I just don't know. My mind is not where it needs to be. Mentally, I'm feeling down on myself. This isn't a good way to be. The weekend is coming up and I don't need to be feeling low. But what can I do? When you play the game and don't have what it takes, you're a fool. The entry on this trade was shit and it goes on from there. Not much else to say. I shoulda stayed out and I should have got out when I didn't stay out...
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