Wednesday, December 27, 2006
The Dow was up 103 points on light volume again. Advance/declines were over 3 to 1 positive. I suppose in retrospect I should have got some calls when we were oversold and down big on the McClellan oscillator. I guess I just wasn't paying attention. I am in holiday mode. Trying to take a break and that's what I'm doing. Gold was up around 3 bucks and the XAU rose almost 3 points. Again the volume was light so I really don't know how to treat it. The gold shares are oversold here too. I just don't trust light volume rallies though. I'm on the sidelines there. The prudent thing to do at this point I believe is to wait until next year. That is what I am going to try and do. Mentally I'm going to stay in stand-by mode. There is no reason to try and force things here. I am going to try next year to only take the good set-ups. I will try and trade less but with better success. I know it won't be easy but that is the plan for now.
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