Wednesday, August 29, 2007
The volatility continues on Wall Street as we rallied back up 247 points. This time advance/declines were 7 to 1 positive. The volume was light again and that is the problem here. You can't trust the moves without the volume. So the market gets whipped around from day to day. Who knows about tomorrow? My OEX puts are back in the red. Greed kills. I think I'll just get out tomorrow and step aside. There is no telling what Bernanke will say on Friday. There is a GDP report tomorrow. Gold was up a couple bucks but the XAU rallied 4 1/2 points. ABX was up a dollar. The volume was light here again. I'm thinking perhaps that I have missed the calls but there may be a chance. It's hard to tell without the volume. You can't argue with price action though. GE was up 60 cents on average volume. Mentally I'm a bit tired without a good nights sleep. I'm also not feeling good about not moving up the stop on the OEX trade when it was showing a small profit. You can always look back and say what you should have done. It doesn't matter after the fact but it is always good to go over the possible scenarios for the next time. We'll see what tomorrow brings...
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