Tuesday, June 13, 2006
The Dow lost 86 points on heavy volume. Advance/declines were over 3 to 1 negative. The worldwide liquidation continues. When the market is oversold and stays there means trouble. I would like to get some calls but I already tried that and lost. We will bounce hard at some point this week. Perhaps tomorrow on the consumer price data. But it's just a guess. Gold got slammed today, down $44. The XAU lost around 5 points at last juncture. I wanna get some calls here too but go out a month or two. But again, in times like these it's really a crapshoot. I am on the sidelines and guess I'm thankful that I didn't lose more the past couple of months. But don't get me wrong. My trading has flat out sucked and I need to work on it. But I am taking a break here and going on vacation in July. I might possibly have a trade in while I'm gone but probably not. Mentally I'm out of my routine for the rest of the week so I'm taking it easy. Trading is a most difficult game and I guess it wouldn't hurt to take a break every now and then. I'll be looking for that bounce in here soon and try to keep myself from doing something stupid.
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