Thursday, February 15, 2007
The Dow rose 23 points on light volume. Advance/declines were positive. I stayed out of making an OEX trade. I would like to buy the puts but there really isn't any good signal. Expiration tomorrow and I'll be on the sidelines. A long weekend is approaching also. We are moving to overbought but aren't there yet. Gold was little changed but the XAU rose a point. There is no quit in the gold shares right now. ABX and NEM were both up fractionally and the volume was OK. I almost got some ABX calls for next month but didn't. We are so overbought here but it remains resilient. Earnings out next week. Same for NEM. I might give it a try, the fundamentals are there. The problem is that we have already moved up a lot. We'll see. Mentally I'm not in a good place, having missed out on some good gains this week. It is frustrating but I've got to just keep moving on. It's all I can do. Inflation data out tomorrow. Trading is the most difficult and challenging thing to do sometimes. I recognize this but it doesn't make it any easier. I guess you've just got to keep on moving and see what happens. I'm somewhat pleased that I did not try and trade the last day here. But it pales in comparison to what I should have been doing this week. I'll go from here.
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