Friday, October 13, 2006
The Dow was up another 12 points today. Volume was a bit lighter than lately however the advance/declines were positive. The overall market was higher. I had to fight myself not to buy some puts today. The trend is up and I cannot fight that. Every time I try I get burned. Yet there is something that tells me that when it starts to drop, it's going to be big. I need to fight that though because it hasn't worked yet and it is foolish to try and pick the top. That said, who knows what will happen next week? Gold was up $12 and the XAU rose over 3 points. ABX was up on good volume. I suppose I will be looking for a light volume pullback to get long here. That really should be my next trade. Money is flowing back into gold here, for whatever reason. I'll need to check the charts this weekend but that looks like the next thing. However you just never know there either but I think enough people have lost money there now. It is off the radar screen and I have had some decent gold trades in the past. I'll go out to December if necessary but will try November also. Mentally I'm feeling pretty good today and I don't know why. Perhaps because I didn't do anything stupid today. Maybe it's the pre-weekend high. At any rate expiration week looms and I'm sure that I will try some type of trade next week. We'll see.
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