Thursday, August 23, 2007
The Dow ended basically unchanged today. We opened higher, went lower and then came back. Advance/declines were even and the volume was light. The OEX puts I have lost some value. We are still at the down trend line. At this rate I think that it could be broken to the upside. Now tomorrow becomes important. Although I feel that I have until Tuesday for this to work. I could be wrong. A couple economic reports out tomorrow. Gold was little changed and the XAU lost 1 1/2. ABX was down over a half. If I get a chance I'll buy some ABX calls again. GE ended slightly higher. Volume was lighter then lately. Mentally I'm doing OK. Slept well. I might have been early on getting the puts but I had to stick to the game plan. They don't always work. The OEX trades much more compressed then individual issues. The pace is quicker. Decisions must be made faster. It is a more difficult instrument to trade. But it does offer opportunities and that's why you trade it. We'll see...
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