Monday, August 28, 2006
You know, I would really like to move from this lame-ass site. But the other sites are no better. So here I am. The Dow gained 67 points on light volume. Advance/declines were 2 to 1 positive. I do see some near term strength coming here but I will probably use it as a spot to buy puts. It is the end of the summer and it's the last week of vacations and getting the kids ready for school. After Labor Day the real fun begins. I may go out to October on the puts. That could be the prudent thing to do. I haven't made a trade in quite a while, taking July off for vacation and all. But the time is coming. I have to be ready. Gold lost around $7 and the XAU shed about 3 points. Not sure what all that means and again, the volume is light. The employment report is out on Friday and the FOMC minutes will be released tomorrow. That's probably about it for the week. Friday could be light with a long weekend coming up. And so it goes. If anything, I'd like to be long here. But I'm trying to be patient. I think a really good trade is on the horizon. I've just got to be positioned to take it. Mentally I'm trying to get into the proper mode for success. I need to keep doing the work and paying attention.
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