Tuesday, October 17, 2006
The Dow lost 30 points on average volume. Advance/declines were negative. We were off 90 points early but then came back. Is this the beginning of the long awaited downturn? Who knows? Tech earnings are coming out after the bell and they are mixed so far. Inflation data tomorrow morning also. I almost bought some puts after the bell but did not. As usual the battle lies within myself. Gold was off about $5. The XAU sold off early but then came back to be off just a touch. ABX came back too and the volume was good again. I am still looking to get some calls here but will not chase it. I may have missed it, time will tell. I would really like to make some money this week. I need a good trade because it has been quite a while since I've had one. Mentally I'm doing what I can to stay positive after the recent heavy losses. It isn't easy. You've got to just keep on going in the game. I have at least finally learned that cutting losses is just as important as making money. It is imperative. My best teachers are losing trades. However if that was the case, I'd have a PhD by now and be teaching the class.
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