Thursday, June 01, 2006
The Dow up 92 points on OK volume. Advance/declines were 3 to 1 positive. We are going up. How far and for how long is the question. I would like to get some OEX calls but they are expensive. There is also a chance that we will go sideways. But the market does what it wants and we could go to new highs too. Employment report tomorrow and todays action tells me we will continue higher regardless of the numbers. We'll see. Gold was down $15 today and the XAU sold off but came back to be down only a point. Interesting. The gold shares again are holding up. I'd like to purchase some calls here too but I'm not sure of the timing. It seems there is still interest in owning the gold shares. Hard to say what will happen there if the dollar rallies. I'm a bit tired today but that's no excuse for indecision. Mentally I don't know why but my mind can't seem to find a good trade at the moment. I might be too late for the OEX calls. Indecision won't be an asset in this game. But there is nothing lost on the sidelines except for opportunities. I am going on vacation in a month so there will be a disruption in my trading. I'll handle it as best I can. Only 2 weeks left for June options. Don't see anything happening yet but ya never know...
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