Friday, July 21, 2006
Well, it's been a while. My vacation is now over. The Dow lost 60 points today on good volume. Advance/declines were around 2 to 1 negative. It was an expiration Friday. The market lost ground while I was away. I think it will lose some more before it is all said and done. The Middle East blew up while I was away also. Israel is about to invade Lebanon. Market factors to be sure. I will now have to get back into market mode. The routine must return. It is. Gold lost over 10 bucks today. It generally trended higher while I was gone but has fallen recently. The dollar has pretty much gone sideways since I left. The summation index turned around and was heading higher for most of my vacation. It recently turned down. I don't know where we are going nearterm from here. The Fed meets in August and that should be a market mover. I have updated all my charts since I've been gone and am ready to trade, I think. I have some ideas but there is more catching up for me to do and I am not going to rush into anything. My mind needs to return to the routine of following the markets every day. That might take a week or so. Plus it is summer and we should see the doldrums at any time. The market will get lethargic and not really do much of anything before it gets ready to make its next big move. It is already the weekend and I'm going to relax. I'll do some catch-up work but for the most part, I'm ready to go...
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