Tuesday, March 13, 2007
The market got slammed today, down 242 on very heavy volume. Advance/declines were 5 to 1 negative. I missed out on the puts. I had an order in again and it did not get filled. I adjusted it down when I should have adjusted it up. Now I had a couple of days to get something done and I didn't which is frustrating. However there is still a chance with 3 days left to do something, so we'll see. I have been tired lately and that may have contributed to my lack of conviction. I knew we were going to test the lows. That said there is nothing I can do about it now. Gold wasn't down much in todays trade but the XAU got slammed as well, down over 5 points. My ABX calls were filled and now I don't even want them. We'll have to see how the week closes but this trade doesn't look good. Volume was heavy in the gold shares also. When the selling begins, it takes everything down with it. That seems to be the case with this decline. The market is nervous again and rallies will be sold. Tomorrow could get interesting. Mentally I'm feeling down again for missing out on the OEX puts. I really needed to just make my mind up and buy something. It is worse than losing money. I really hate to miss opportunities and this was one of them. Perhaps looking back the gold trade will pan out but it doesn't matter. It is a tough game and I need to sharpen up. My analysis is fine but my trading tactics need work. It's something that will need to be addressed. I will go on though because win or lose, that's all you can do...
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