Friday, May 11, 2007
The Dow gained 111 points today on light volume. Advance/declines were 3 to 1 positive. So we got the opposite of yesterdays action. Is it a snap back or are we going to new highs in the S&P? Who knows? I had to fight myself all day not to do another trade. Because I'd like to try the puts again. As I've said hundreds of times, the battle always lies within oneself, not the markets. Gold was up 5 bucks and the XAU rose a couple points. The volume here was light also. I'll have to look at things over the weekend. Right now my thought is that my next big trade will be in gold at some point. I have to wait for a decent signal though. I'm not sure that will happen anytime soon. Mentally I'm feeling OK, got a decent nights sleep. I suppose that I will try and let next week pass without making a trade but there are no guarantees. My year hasn't been going well as yet but that can change. I'm kicking myself for not buying some SUNH, which is a long term play for me that I haven't been able to get in to. It continues to go higher. One of my themes for the long term is health care. I think the demographics support these type of companies. These stocks aren't trades per se, they are long term holds once purchased. I'm hoping for some weakness at some point this year and then I can act. Until then it's a waiting game. Time for the weekend...
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