Friday, January 19, 2007
The Dow was down 2 points on good volume for options expiration. Advance/declines were over 2 to 1 positive. GE earnings came out. They were good. It didn't matter. The stock lost over a point on heavy volume and my calls got killed. The loss was substantial, over 90%. I blew it once again. I suppose I should have never canceled the stop-loss order. But that's what you get when you take chances. I had a few chances to get out of this thing with a profit during the week and did not take advantage of them. I went for the big trade. It was stupid. This trade never panned out early as I had expected. It was a warning sign that I did not listen too. I knew I should have bailed out earlier this week and I didn't. I got what I deserved, I suppose. I will be starting out the year in the hole again. It sucks. My trading is pathetic. There is no discipline. I treat each trade as if it's the last trade on earth. As if I have to be right on every trade. Like every trade is going to be a blockbuster winner. They rarely are. It was foolish. I should have gotten out and moved on. I will have to put this latest mistake behind me and move on. I have no choice. Times like these stink but you bring them on yourself. As always the biggest enemy is myself. It's a bad feeling but there is no escaping it. I failed miserably once again. I begin to wonder how much more of this that I can take. The years and years of disappointments. The botched trades and bad decisions. It is the toughest game in the world. And more so when you're stubborn and stupid. Gold was up over 8 dollars today. The XAU barely gained 2 points. NEM acted better than ABX. I would like to make a trade here but the gold shares just haven't been moving with gold lately. The last time this happened it led to a big decline. We are at critical support for ABX and it needs to hold here. If not, then a bigger decline should be in the cards. I'll check things over the weekend. That's about it for today. There isn't much else to say...
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