Thursday, September 21, 2006
Who knows if this blog will post? This site is pretty lame. The Dow lost 80 points on increased volume. Advance/declines were negative. I'm definitely not sold on this decline. The internals don't look like they are ready to drop significantly. I could be wrong. We'll see about tomorrow. My puts are still losing big time. I think I might have a chance to take a small loss but only if we get a big downdraft. As I said when I purchased them, there are an extra week on these options. That might be what saves me. Or not. I really did not time this trade on the entry very well and I paid way too much for what I got. But what can you do? Gold was up a couple bucks and the XAU rose over a point. No real interest there even though the dollar fell. We should be getting some earnings pre-announcements soon. That could help take us down. Perhaps the summation index is pointing down but not decidedly yet. Mentally I'm feeling better now that my trip to the dentist is over. But really, I'm stuck in a bad trade. I really need to get out and try again. But I do think that I might be able to just get out with a small loss, if I'm lucky. The trouble is now I'm tied up in this trade and there are others to be had. It wouldn't be so bad but I put more money than I should have in this and do not want to risk any more at this point. And so it goes. If you don't have the discipline to stick with the trading rules than you will pay the price. The markets are a tough game to play.
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