Wednesday, October 11, 2006
The Dow lost 15 points on increased volume. Advance/declines were negative. I bought some OEX puts. I have already put in the stop-loss order. This is probably another dumb trade but the market cannot go up forever. The money risk is minimal. I'm just guessing the top is here as I did before. We'll see. Gold didn't move much today but the XAU lost over 2 points. ABX was down good on heavy volume. I'm looking here but the market seems to say it wants to go down here. People are still just selling off commodities. I am looking to November here but it might be a bit early. Not sure so I'm staying on the sidelines for now. Mentally I'm afraid that perhaps I did this trade for the sake of trading. It happens. I don't have a clear signal but the McClellan oscillator did flash a sell signal yesterday. However today could have been it for the decline. We'll know more tomorrow. Trading isn't easy. It really is tough sometimes. I'm trying my best here and feel good about the fact that I am at least exercising some risk control. But the bottom line is profit and I'm down for the year after my latest fiasco. We'll see what happens with this trade...
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