Monday, May 14, 2007
The Dow gained 20 points on average volume. Advance/declines were negative. The overall market was weaker with the S&P 500 and the NASDAQ both down. Usually such action portends lower prices ahead. But it hasn't been that way lately. The summation index remains pointing down also. Inflation data tomorrow and that will be the mover most likely. Gold was down a couple bucks and the XAU lost over 2 points. The dollar didn't do much today and most of the metals were weaker. I have no trades in the works. Mentally I'm feeling fine. Trying not to make a trade this week if possible and trying to come up with a game plan for the months ahead. I really need to come up with a winning trade to break out of this funk. I have no idea where it will come from but I'm looking. As I said before I will be looking at getting long gold when the proper signal is generated. It hasn't happened where I've been able to see it as I missed the last one a couple weeks ago. You always have to pay attention in the game. There is no let up. That's what helps make it tough. But that's what makes the winning trades all that more rewarding. And not just for the money. It's a mental game with oneself. I don't think it is any more than that when you really get down to it. But what do I know? Not much really. We'll see what tomorrow brings...
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