Tuesday, October 31, 2006
The Dow lost 5 points on good volume. Advance/declines were about even. We were higher and lower for the last day of the month. No real direction. I expect some money flow for the beginning of next month. Gold was little changed but the XAU rose 3 and 1/2 points. Again, I have missed out. NEM and ABX were both higher, although the volume on ABX wasn't that hot. NEM reports tomorrow. I canceled my open order for calls. Never got close to being filled. I might think about re-entering it if NEM goes down on the earnings but I doubt it. ABX earnings on Thursday. These issues are overbought but that means nothing lately as the overall market has proved lately. We'll see what happens but I am not happy about missing out on gold. But what can you do? You just have to move on. It is a very frustrating game at times. You somehow have got to keep going. Losses and misses. You might even begin to question why you are even in the game. Perseverance is the key in times like these. You've got to stick to it. There will be other opportunities but at the moment it doesn't matter. Mentally it's tough to go on. They say missed money is better than lost money but it sure feels the same. It's a crazy game. Well, I guess we'll see how the earnings come out.
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