The Dow lost 5 points on good volume. Advance/declines were about even. We were higher and lower for the last day of the month. No real direction. I expect some money flow for the beginning of next month. Gold was little changed but the XAU rose 3 and 1/2 points. Again, I have missed out. NEM and ABX were both higher, although the volume on ABX wasn't that hot. NEM reports tomorrow. I canceled my open order for calls. Never got close to being filled. I might think about re-entering it if NEM goes down on the earnings but I doubt it. ABX earnings on Thursday. These issues are overbought but that means nothing lately as the overall market has proved lately. We'll see what happens but I am not happy about missing out on gold. But what can you do? You just have to move on. It is a very frustrating game at times. You somehow have got to keep going. Losses and misses. You might even begin to question why you are even in the game. Perseverance is the key in times like these. You've got to stick to it. There will be other opportunities but at the moment it doesn't matter. Mentally it's tough to go on. They say missed money is better than lost money but it sure feels the same. It's a crazy game. Well, I guess we'll see how the earnings come out.

The Dow lost 3 points on light volume. Advance/declines were slightly positive. No news or events to drive the market today. Employment report this week and that's about it. End of quarter tomorrow. Gold was up around 6 bucks today. The XAU rose less than a point. Don't really know what to make of that. I still have the open order for NEM calls but I will cancel it if it doesn't get filled tomorrow with the earnings now out on Wednesday. Suppose I'll just have to wait for something else. Perhaps I can do ABX if NEM doesn't have a good report. Or I can wait. The technicals are overbought for the XAU right now so buying calls here may not be the smartest thing to do. I don't have any good ideas right now. Perhaps will look to short this thing at some point in this option cycle. But you never know. Mentally I'm looking forward to the gold share earnings and the markets reaction. I could stay on the sidelines. I'm thinking now that perhaps they ran up in anticipation of the good news to come. But that's just a guess. Not much else to say here...

The Dow actually went down 73 points today on average volume. This is the first legitimate down day in quite some time. Advance/declines were negative. Does it mean anything? Probably not but we'll see. GDP came in weaker than expected. So the so-called soft landing now is suspect. I've given my economic forecast before. Inverted yield curve will lead to a recession and the tip-off will be when copper goes below $3. That's my guess. Gold was up a buck to around $600 but the XAU was down a point. The dollar was weaker here too. I adjusted the NEM trade down a notch but left the order open. Both ABX and NEM were down on average volume. I'm still sticking with the higher price theory here. Earnings for both on Thursday. I don't like the fact that the technicals are at the high end of the range but that could be worked off early next week. Honestly, you never know how the market will react to the earnings. But the way the open interest expanded for NEM, that will probably be the play. Hopefully there will be a sell-off there early next week for portfolio adjustment but that is just a hope. Mentally I'm feeling good and am ready for the next trade. Perhaps there will be a chance to eventually short this thing in November after all. But that's a dicey proposition at this point. For now it's the weekend and time to take a break...

The Dow up 29 points on good volume again. Advance/declines over 2 to 1 positive. It's a broken record. Will nothing derail this thing? Overall market stronger than the Dow. What can I say? We're on a momentum run and there is no stopping it at this point. I'm thankful that I have stopped trying to short it. But still, this is insane. We've seen it before but I certainly had no idea that it would happen now. Gold was up over 9 dollars and the XAU was off fractionally. The opposite of Monday when gold was down big and the XAU rose. Perhaps we will cool off here for a bit on the XAU. I still have an open order for NEM calls. Might switch to ABX if it drops enough but that may not happen. Earnings a week from today on both issues. Open interest expanded more on NEM during this rise so I'm leaning that way. But who knows? Microsoft announced after the bell and has sold off just a touch. GDP tomorrow and my hope is that it is stronger than expected and the dollar firms leading gold lower. The Dollar was lower today. The XAU is overbought here so I need a pullback to pick up some calls. Even so, this trade may not work but I am going to give it a try. Mentally not much to say today. Just waiting for an opening on the gold long side. Trying to stay positive and do what is necessary. Just have to keep going here...

The Dow was up 6 points on heavy volume. Advance/declines were almost 2 to 1 positive. Nothing seems to be able to keep this market down. The Fed left rates unchanged. My prognosis was wrong. There was no hawkish statement. Still overbought and staying there. It just goes on and on. There is nothing else to do but watch. Gold was up around 3 bucks and the XAU rose almost 4 points. There is no pullback. I have an open order for some NEM calls but it probably won't get filled. I might try and just get something before the earnings next week because the volume says this move is for real. Gold moves dramatically sometimes and in both directions. I expect the earnings to be good but I haven't been right about anything in quite some time. We'll see what happens. Probably should have been buying calls on Monday. It is always easy to look back. Mentally what can I say? It is no fun being wrong all the time. The heavy losses I sustained before have now caused me to it on my hands when I should have been trading. That is the problem. You get gun shy and end up not doing anything when you should be trading. That's why losses are killers. You lose your confidence. And there is no place to go. You have to somehow forget about your past mistakes and move on. It isn't easy. Discipline is not to be taken for granted. The markets are unrelenting. If it was easy, everybody would be successful. Tough game.

The Dow was up 11 points on good volume. Advance/declines were positive. Overbought again and what else is new? Fed announcement tomorrow. The market just continues to go higher. Until there is a change, there is nothing else to say. Gold came back around 5 bucks and the XAU was fractionally higher. I'm still looking to get some calls here if we have a pullback. If not then I'll be on the sidelines. I might switch to NEM calls if the price gets low enough. Earnings for both ABX and NEM are next week on Thursday, so I'd like to be positioned before then. But the market knows this so I'm not the only one looking at things here. Sun Healthcare continues higher but as I said before that will be a long term holding and not a trade. Earnings there next week I believe. So today the overall market was weaker than the Dow again. I now see the volume was heavy. So maybe we fall a bit tomorrow. I'm looking for the Fed to come out with a hawkish statement with bonds and stocks to fall. That should support the dollar and send gold lower. That is my guess. And a guess is all it is because regardless of what everyone says, nobody really knows. Mentally I'm a bit stressed with computer problems this morning that required outside technical help and delayed my access to market information. These things happen and fortunately it was a slow day trading for me personally. So I'm a little drained and will end this blog.

The market was up 114 points on good volume. Advance/declines were positive but not by a lot. How long can this go on? Nobody knows. But the internals are starting to get weaker on the advance. The McClellan oscillator has another non-conformation. Eventually there will be a decent decline. I have tried to pick it and now I have stopped. The market is not functioning under normal circumstances. It is a momentum run and they never finish good. Something will trigger the inevitable reverse. Perhaps the Fed on Wednesday. But it is all just a guess. Gold was down over $13 and the XAU rose a point and a half? Try and figure that out. The gold shares had good volume. It makes no sense. I would still like to get some ABX calls but I won't overpay for them. This too, is not the conventional movement given the change in the underlying. What am I to do I ask myself? Sit tight for now I suppose. Mentally I'm confused and so I must wait for better times I guess. But we all know how that goes. Most of all I must protect myself from myself and what a difficult challenge that always is. So it goes with trading. Perhaps tomorrow will shed some light on things.

The Dow lost 9 points today on good volume. Advance/declines were negative. I was able to make it through the day without doing any stupid trades. On to the November cycle. I am disappointed about missing out on Sun Healthcare. I have been wanting to buy that stock on a pullback for some time as a long term holding. But a pullback has never came and now it is going to the moon. It announced some type of takeover today and was up over 10%. I will have to look for another low priced issue in this area. These are long term ideas and do not involve trading. Gold was off around 6 bucks and the XAU lost over 2 points. Volume was light though and I'm a buyer of ABX calls on this pullback. Hopefully sometime next week. I just hope I'm good enough to pull it off. We'll see what happens. And who knows, I could be wrong of course. But that will be the next play. Mentally there isn't much to say. Trying to forget the huge losses this month. Trying not to be down about missing SUNH. You somehow have to put things behind you and go on. I've made mistakes before and I will again. I just can't let that stop me from going forward in the future. Trading is tough. There are no excuses. You're either good enough or you're not. These past few months haven't been my best. But I will try and put it behind me and continue. I'll check the charts over the weekend and get ready for next week...

The Dow was up another 19 points on good volume to close above 12000 for the first time. Advance/declines were positive. Got a sell signal on the McClellan oscillator last night and I had to fight myself not to buy any puts today. Expiration tomorrow. I will be pleased if I can stop myself from doing something stupid. The sell signals lately have just not worked and it doesn't look like that one will either but we'll see. It's a momentum market and the usual things just won't work. Gold was up $10 today and the XAU rose over 4 points. Volume was good. It looks like I have missed the boat here. But that's what happens when you've had so many bad trades. You just get into a funk and you really need some thing to break out of it. ABX moved much higher and the calls have gotten away from me. There is a slight possibility that I might move to a higher strike price but that remains to be seen. There is a ton of premium in the calls so I think that everybody knows that they will work. Perhaps it has to do with the upcoming earnings. I don't know but I am going to keep an eye on them and if I get the chance that will be the next trade. Mentally I'm not in a good place missing out on the gold. However I may get a chance there and might switch to NEM. The relative strength is with Barrick though and that really should be the play. Not much else on the radar. Fed next wednesday. We will probably be in a holding pattern until then after tomorrow. Google after the bell and it looks like it's in a rally. However Sandisk looks like it's getting killed. Who knows?

The Dow rose 42 points on heavy volume. Advance/declines were positive. The overall market was weaker. The NASDAQ was down and the S&P was only up a point or so. The inflation data was benign. I think we are approaching a top here. I may try and short this thing before expiration. We'll see. Perhaps I should hold off and I will let the action dictate what I do. Very risky. Gold was little changed, down a little. The XAU lost over 2 points and the volume picked up a bit. I am still looking to get long ABX calls for November at some point. Earnings on November 2nd. We'll see. I think that is the next play. Volatility is returning to the overall market. That could bode well for the puts. Or not. Earnings continue to come out decent so far. They will probably be good next quarter as well with the sell-off in energy. Oil broke $58 today. Mentally I'm feeling fine, trying not to do anything stupid between now and the end of the week. The Fed meets next week and I expect no change. Otherwise it's a waiting game now, watching gold and the gold shares.

The Dow lost 30 points on average volume. Advance/declines were negative. We were off 90 points early but then came back. Is this the beginning of the long awaited downturn? Who knows? Tech earnings are coming out after the bell and they are mixed so far. Inflation data tomorrow morning also. I almost bought some puts after the bell but did not. As usual the battle lies within myself. Gold was off about $5. The XAU sold off early but then came back to be off just a touch. ABX came back too and the volume was good again. I am still looking to get some calls here but will not chase it. I may have missed it, time will tell. I would really like to make some money this week. I need a good trade because it has been quite a while since I've had one. Mentally I'm doing what I can to stay positive after the recent heavy losses. It isn't easy. You've got to just keep on going in the game. I have at least finally learned that cutting losses is just as important as making money. It is imperative. My best teachers are losing trades. However if that was the case, I'd have a PhD by now and be teaching the class.

The Dow was up another 20 points today on average volume. Nothing can stop it from 12000 so it seems. Advance/declines were over 2 to 1 positive. It implies even higher prices. I will have to fight myself not to short this thing sometime this week. We'll see. Gold was up a few bucks and the XAU was higher too. Volume is coming into the gold shares here for whatever reason. I am going to get some ABX calls if there is a pullback. We have inflation data out the next couple of days. They are potential market movers along with some tech earnings. Right now we are on a momentum swing. As long as we keep going higher, money will continue to flow into this market. I certainly don't want to try and fight that. The question is what happens when it ends? That will be interesting. For now there is no end in sight. We are overbought and have been for weeks. I may get a short term sell signal later in the week but that remains to be seen. Mentally I'm doing as good as can be expected, considering how much money I have lost recently. It has to be forgotten and the next trade must take center stage. It is the only way to go on. Not much else to say. It is Monday of expiration week. The will be opportunity here but I think I will prefer to go out to November. Time will tell.

The Dow was up another 12 points today. Volume was a bit lighter than lately however the advance/declines were positive. The overall market was higher. I had to fight myself not to buy some puts today. The trend is up and I cannot fight that. Every time I try I get burned. Yet there is something that tells me that when it starts to drop, it's going to be big. I need to fight that though because it hasn't worked yet and it is foolish to try and pick the top. That said, who knows what will happen next week? Gold was up $12 and the XAU rose over 3 points. ABX was up on good volume. I suppose I will be looking for a light volume pullback to get long here. That really should be my next trade. Money is flowing back into gold here, for whatever reason. I'll need to check the charts this weekend but that looks like the next thing. However you just never know there either but I think enough people have lost money there now. It is off the radar screen and I have had some decent gold trades in the past. I'll go out to December if necessary but will try November also. Mentally I'm feeling pretty good today and I don't know why. Perhaps because I didn't do anything stupid today. Maybe it's the pre-weekend high. At any rate expiration week looms and I'm sure that I will try some type of trade next week. We'll see.

The Dow was up 95 points on good volume. Advance/declines were over 3 to 1 positive. I lost on the puts again and got stopped out. It was a dumb trade. I already knew it yesterday. It was a trade for the sake of trading. It lost about 35%. I guess I need to step back and take a break. I haven't had a winning trade in months. It's as if I'm starting out all over again. Last years good profits are like they never happened. I'm in a bad way. Nothing I'm doing is working and I am either wrong or missing something. This market is on a momentum feed and nothing will stop it at this point. The money just keeps going in on the upside. I've seen it before but I did not expect it now. There is nothing to do but watch and wait at this point. Gold was up a few bucks and the XAU rose over 3 points. I'd like to get some ABX calls but may have missed out here too. I was also thinking about some GE puts with the earnings coming out tomorrow. But when I'm in such a funk as I am now, it's probably better if I just sit it out. Mentally I'm in a bad way. I'm losing money, have had my worst month ever and don't have a clue. It's not a good place to be. I must somehow persevere in this negative environment. I have got to somehow snap out of it. We'll see what happens...

The Dow lost 15 points on increased volume. Advance/declines were negative. I bought some OEX puts. I have already put in the stop-loss order. This is probably another dumb trade but the market cannot go up forever. The money risk is minimal. I'm just guessing the top is here as I did before. We'll see. Gold didn't move much today but the XAU lost over 2 points. ABX was down good on heavy volume. I'm looking here but the market seems to say it wants to go down here. People are still just selling off commodities. I am looking to November here but it might be a bit early. Not sure so I'm staying on the sidelines for now. Mentally I'm afraid that perhaps I did this trade for the sake of trading. It happens. I don't have a clear signal but the McClellan oscillator did flash a sell signal yesterday. However today could have been it for the decline. We'll know more tomorrow. Trading isn't easy. It really is tough sometimes. I'm trying my best here and feel good about the fact that I am at least exercising some risk control. But the bottom line is profit and I'm down for the year after my latest fiasco. We'll see what happens with this trade...

The Dow picked up 9 points on average volume. Advance/declines were positive. Not much movement today. No trades on the horizon there. Gold was down around 5 bucks but the XAU rose over a point. I'm looking to do something on the long side there. But I am waiting for the bottom if I can find it. Earnings are starting to come out and Alcoa missed after the bell. I don't know how that will affect the overall market tomorrow. It still has the feel of a market that wants to go higher. I haven't gotten a decent technical signal in a while. Mentally I'm just hanging out and waiting. Sometimes that is the hardest thing to do. I would like to try another trade before expiration but I'll need to get a decent signal first. Not sure that is going to happen. Otherwise, it's a waiting game.

The Dow was up 7 points on light volume. Advance/declines were positive. It still seems like the market wants to go higher. Rising oil, North Korea problems and still the market wants to go up. Nothing is sending it into a sell-off. How long can this go on? I would like to try and get short again. Gold was up $5 but the XAU lost some ground. Volume was light there also. I'm looking at getting long for November gold. Just a thought at this point but I'm leaning that way. If there is another sell-off in the gold shares, I'm going to give it a try. Otherwise there is really nothing on my horizon. Less than 2 weeks until expiration so I'd like to try and do something. Mentally I'm just trying to wait for a good signal, follow the rules and not trade just for tradings sake. It isn't an easy task but nothing is in this game.

The Dow lost 16 points on average volume. Advance/declines were about 2 to 1 negative. The overall market was weaker than the Dow but we have seen this before. It seems like nothing can drive this market down. It is up, up and away. I feel like just putting the money in my mutual funds and forgetting about it. But we all know better than that. Just when you think the market can't go down, it will. Harder and faster than most will believe. I have been very wrong lately but the next trade could be another good one. Gold was up a touch and the XAU was little changed. I'm looking here again for a trade. I need to check the charts. This week could be the end of the decline. Mentally I'm doing OK considering how much money in losses I booked this week. I have vowed to never let that happen again and this time it's for real. I might have some medical issues coming up since I have to go to the doctor again next week but nothing will deter me from my ultimate goal of successful trading. I was having a good year and then just blew it out like a fool. However I will be making a comeback. That's the plan. The employment report took the bond market down but the stock market seems to be shrugging it off. Earnings begin next week and we'll see where we go from there.

Market up 16 points on good volume. Advance/declines 2 to 1 positive. Gold and the XAU up. Short blog due to doctors appointment.

The Dow continues higher, up 123 points today. Volume was heavy and the advance/declines were 3 to 1 positive. I had put in another overnight order for puts. It was filled and then I was stopped out for a small loss. I finally followed the rules. That is the only saving grace from the substantial losses that just occurred. I will always follow the rules from now on. I dumped the other puts at heavy losses today. It was way beyond the time to do so. I was stupid and I paid for it. But I finally learned an important lesson that I hope I don't soon forget. The big loser was 90% of the trade and the other was 60%. These are killers and I am now down on the year. I will never lose that much on a trade again. Never. It won't happen. Stop-loss orders will be placed as soon as the trades are filled. This is something that I have known for some time but I have been too stubborn to do because I think my trades will always be winners. That is lunacy. My trades are usually losers so I will now protect myself from myself. The volume has told the story here as we continue higher. I just did not want to listen to it. That was dumb. The market has gone up regardless of the news and that should tell you something. The news doesn't matter right now. Money is simply flowing out of oil, gold and other commodities and into the stock and bond markets. I don't know how long that will last but there is no sense in trying to fight it. I need to also remember to keep a sane and open mind when I have a position. Because I usually just try and fit things into the trades that I take. Objectivity must be maintained. It has to. The recent losses have put a lot of things in perspective. How I trade from here will be interesting. There is still plenty of time this year to turn things back around. We'll see what happens. I'm out of time today.

The Dow was up 57 points to a new all time high. Volume was good. Advance/declines were slightly positive. That is the problem here. The overall market is not confirming the move in the Dow at all. That is why I bought puts and the situation hasn't changed. This market will fall but my timing was off. The indicators just remained overbought as they are now. But it will happen. Gold got pounded today, down over $20. The XAU lost over 8 points. Volume was heavy as money continues to pour out of commodities and into the stock market. Oil was down big too. I think a recession is coming but the market doesn't think so. Mentally I'm sitting tight, waiting to take my big losses. It's only Tuesday so we will have to see how the week closes out. Employment report on Friday. The market continues to defy the indicators. Just how long can that go on?

The Dow closed down 8 points in light volume trading. Advance/declines were negative. The overall market was much weaker with the S&P500 down over 4 points and the Nasdaq down 20. The OEX didn't move much and the puts are still big losers. I'll need quite a down move to salvage the losses and that isn't in the cards at the moment. I expect one more move to the upside and then maybe a decent downdraft. But that is a guess as usual. Gold was down a couple bucks and the XAU was up a little. Not much else to say on a Monday. Mentally I'm getting it together in a way that I hope will bring success. Discipline will be the key.

The Dow lost about 40 points today. Volume was light and the advance/declines were negative. The market wants to go higher. The technicals seem to point to another high. Light volume declines mean nothing. We will be short term oversold in no time. Gold was off over $5 today and the XAU was down a point or so. Of course I am about to book one of my biggest losses ever in the OEX. It was foolish. I am going to try and turn it into a positive though by going over my trading scheme and making some changes. Sometimes the biggest losers can become the greatest teachers. My risk control is terrible. It must be addressed or I will never get anywhere. I broke one of the rules with this trade and that should never happen. It was really stupid on my part. I hope I never do it again. The discipline wasn't there. It must be or trading just won't work. I need to take an honest look at just what happened to prevent it from happening again. It is a tough game. I'm always toughest on myself and I have to be. It's a business and must be treated as such for success. My results up to now have been lacking, even with big winners. From now on things will change or I will have to think of something else to do. I've invested a lot of time and money into this venture. I cannot afford to have to throw it all away due to my lack of discipline. I've got to make some changes and I've got to start right now.

The Dow was up 29 points on light volume. We are almost at an all-time high on the Dow. The other indices are nowhere near their highs. This is the most non confirmations that I have ever seen. I can't explain it. The market does what it wants. My puts are a disaster. Even with 3 weeks left they are all going to be big losers. I will have to change the way that I do things here. There is no other way to go about it. Gold didn't do much today. The XAU was higher early and then sold off. Todays post is short as I have other things to take care of.

The Dow was up another 20 points on good volume. Advance/declines were positive. The market keeps pushing higher and there is no stopping it at this point. I need to bail out of all my positions. It doesn't matter anymore. The puts are losers. Gold was up today and the XAU rallied another couple of points. Missed that opportunity. I guess I need to take a break. My trading has been horrible. But somehow, you have to keep moving on. No discipline and stupid moves. There are no excuses. Mentally I'm tired and will feel a sense of relief when I book the losses and step aside. I guess I just wasn't up to the challenge. My own stubbornness got in the way. I misread the market and it cost me. I was so sure that my ideas would work, it clouded my judgment about what was really going on. But where do I go from here? Will I actually learn something for a change or will I just keep on with the same bullshit that happens time and time again? Who knows? Maybe there are too many other things on my mind. Losses always bring self doubt. I'll keep at it and maybe one of these days I'll get it right.

The Dow surged another 93 points today. Volume was good and the advance/declines were almost 2 to 1 positive. The market is just moving higher, there is no reason. The shorts, such as myself, are getting squeezed to death. I am an idiot for buying more puts today. They are already losers. The other puts I bought are so under water that nothing will save them. I have really made things difficult for myself. I will probably be banking the losses this week and then taking some time off again. There are no excuses. Perhaps I just don't have the discipline that it takes. I certainly don't have it right now. I will be sustaining some of my biggest losses ever here. There is no one to blame but myself. My whole ideas were way off. The market just keeps going higher. There are some vast divergences and yet nothing is happening to the downside. I haven't seen anything like it at this rate. The market just keeps going up. I need to get on the sidelines and watch for a while, I guess. It is not a good feeling. It sucks. I am about to go negative on the year. I broke one of the cardinal rules and risked way too much on one trade. I'm an idiot. There is nothing else to say. Gold was up a little but the XAU rose almost 4 points. Perhaps I should have looked there for a decent trade. All the talk about an extra week on the options just lulled me into a false sense of security. It was stupid. I don't know how to write about what I feel right now. I'm pretty mad also. How could I again do something so wrong? The indicators just didn't work, yet if you can't use them, what good are they? It is the most disheartening thing in the world. To put in all the time and effort. Then just watch as the money just goes away in a hurry. There is nothing else too say...

The Dow continues higher. Up 68 points on heavy volume. Advance/declines were over 2 to 1 positive. The market just keeps heading higher. I am getting killed with the puts I own. I should perhaps sell them and try again. It is painful but my idea was just wrong and I have compounded the problem by risking way too much. These are mistakes that just shouldn't happen. Perhaps I was just anxious to trade since I had been on the sidelines for so long. My normal discipline wasn't there. Of course there is always a chance that the market will go my way but it's doubtful now. Maybe I was lulled into a false sense of apathy with an extra week on the options. I don't know. But the fact remains that we are heading higher and the signs do not point to any significant downturn on the horizon. Quite the contrary, we are overbought and staying there and that isn't a good sign for puts. Not much else to do now at this point I suppose but cut the loss. Gold was up a touch and the XAU broke to new lows and then came back but was still off over a point today. I need to look at the charts here. Could be time to get long. Mentally I'm about spent, with the angst from a big losing trade on my head. The mental capital used up in losing trades is hard to recover from. It takes up a lot of time and effort and isn't worth it. Better risk control parameters must be used. Sometimes you just get it wrong. Sometimes the indicators don't work. It's no excuse to break the rules.

The Dow lost 25 points today. Volume dried up, it was light. Advance/declines were negative. It was a lackluster day. Nobody really wanted to buy or sell. The puts I own are still losing money. I would like to sell them but don't really want to book the loss and try again. The weekly chart looks like it is about to roll over. If it does than the puts will work. But there are a lot of ifs. Light volume is never a good sign but we really haven't gotten the down move that I have expected or traded for. We'll see what happens next week. Gold was up $7 and the XAU did not move with it. I suppose I'll have to stay away from there for now. Back to the puts on the OEX. There are 4 weeks left on them. The entry was wrong. Perhaps time will bail me out, who knows? The summation index has yet to give a firm sell signal and that's a problem too. I anticipated a move and I was wrong. I'm going to have to think things over the weekend. Mentally I am not feeling well. I've been a bit ill lately. I don't know why. Trading is difficult. It is time consuming. It is the toughest game in the world. You have to be up to the challenge. The skills required for success are enormous. There are no shortcuts and there are no excuses.

Who knows if this blog will post? This site is pretty lame. The Dow lost 80 points on increased volume. Advance/declines were negative. I'm definitely not sold on this decline. The internals don't look like they are ready to drop significantly. I could be wrong. We'll see about tomorrow. My puts are still losing big time. I think I might have a chance to take a small loss but only if we get a big downdraft. As I said when I purchased them, there are an extra week on these options. That might be what saves me. Or not. I really did not time this trade on the entry very well and I paid way too much for what I got. But what can you do? Gold was up a couple bucks and the XAU rose over a point. No real interest there even though the dollar fell. We should be getting some earnings pre-announcements soon. That could help take us down. Perhaps the summation index is pointing down but not decidedly yet. Mentally I'm feeling better now that my trip to the dentist is over. But really, I'm stuck in a bad trade. I really need to get out and try again. But I do think that I might be able to just get out with a small loss, if I'm lucky. The trouble is now I'm tied up in this trade and there are others to be had. It wouldn't be so bad but I put more money than I should have in this and do not want to risk any more at this point. And so it goes. If you don't have the discipline to stick with the trading rules than you will pay the price. The markets are a tough game to play.

The site did not work again at 1pm so this is brief. The market was up over 70 points on good volume. Advance/declines were positive. I am getting killed with the puts. I may have to just get out and take the loss. I obviously was wrong. My prognosis did not materialize. I should have stuck to the rules and not traded so many contracts. You get what you deserve. I will wait to see how the week closes out but these things were wrong. My timing was way off. The Fed left rates unchanged. Otherwise it was just another good up day in the ongoing trend. The market is telling you that prices are going higher. The puts won't work.

The Dow lost 14 points today on average volume. Advance/declines were negative. There were some overseas coup rumblings in Thailand that sent the market lower. Inflation news was tame but housing continues weak. Fed meeting announcement tomorrow. I still own the puts but we haven't seen the decline begin in earnest as I expected. I was early on the buy-in and I am losing money. I don't know if this will work now but I do anticipate a decent down day this week. I thought that it might be today but I guess not. Gold was down again and the XAU hit fresh lows. Oil has gotten clobbered here lately too. Money is coming out of commoditites and into the stock market. I am guessing that is what is holding us up. I am getting very wary of this put trade. I am not seeing the summation index signal as I would have liked to by now. I mean that could change in a day but it hasn't yet. Todays action doesn't help anything either. Perhaps my whole line of thinking is just wrong. There was no post yesterday since I played golf. I also took part of today off. I have a dentist appointment before the close on Thursday. Mentally I'm wary as I said before. Perhaps the Fed meeting will be the catalyst to the downside. Yahoo pre-announced that the earnings wouldn't meet expectations and we did not sell-off that much. So I'm worried. We'll see what happens in the next few days. Tomorrow could be key.

The Dow gained 33 points on expiration heavy volume. Advance/declines were positive. My OEX puts have lost some value. The inflation data came in as expected. We opened higher and stayed there all day. I am disappointed that I did not get a better price for the puts that I bought. I could have really saved some money there. Perhaps I was a bit anxious. I still feel that this trade will be a winner. We remain overbought but as each day passes the chance of a downturn increases in my opinion. There are divergences or potential divergences. We'll see what happens next week. As always, the market will do what it wants. However I think the second half of September will be weaker. I also think earnings pre-announcements in the beginning of October will send the markets lower. Time will tell. Gold lost a few bucks today and the XAU gained a point and a half. Volume was very heavy there in the gold shares. Are we at a bottom there? I don't know. I will need to check the charts over the weekend. Mentally I'm a bit tired. I am almost caught up on my readings. I am trying to remain objective about this trade. If we continue strong to the upside I will have to get out and take the loss. There is an extra week on these options, which I've mentioned before. That should keep the premium high. Again, I think this weeks action to the upside was more option related than anything else and next week will be the key. Fed announcement on Wednesday and we will take it from there.

The Dow was down 16 points on lighter volume. Advance/declines were negative. The put options I own didn't do much. We are overbought and could stay there. But I feel this is a trade that will work. Inflation data tomorrow and option expiration. Could skew the markets. We'll see. The action today really had no conviction one way or the other. I saw a lot of volume in some OEX out of the money call options. Only one day left. Gold lost a couple bucks but the gold stocks fell hard, down another 5 points. There is no let up in selling there. I'll look to buy some calls eventually. Mentally I'm doing OK for now. I've continued my reading and I'm doing the work required to be successful at this point. I'm a bit worried that I have bought the puts too soon but even so I think they will be winners. There is an extra week on the October options. Early next week should be a wait and see pattern for the Fed on Wednesday. That's it for today.

The Dow tacked on another 45 points today on good volume. Advance/declines were 2 to 1 positive. The market seems to want to go higher here. I bought some OEX October puts. This was the day that I had targeted and I did it. We are overbought as of tomorrow. I paid more than I wanted and would have gotten a better price if I had waited a while longer. But the purchase was made. The summation index is pointing higher but I bought the puts now. My thought is that it is the right thing to do. I think the recent gains are option expiration week related and not the beginning of some big up move. There will be a divergence on the McClellan oscillator and on the RSI unless we continue much higher. I have put more money into this trade than usual. I am confident here but don't want to be overconfident. Anything can happen in the market, that is for sure. Gold was up a touch but not much. The XAU is trying to stabilize. It was up about a point. Mentally I'm tired as I did not sleep all that good and had to try and enter this trade. It's all about the entry, managing the trade and the exit. This is my first trade in months. I have been patient and I feel that this will be a profitable venture. It seems to me that I have seen what is going on in the market here before. I did get the closer to the money puts and I think that was a good idea. Retail sales tomorrow and inflation news on Friday. We'll see.

The Dow gained 101 points on heavy volume. Advance/declines were 3 to 1 positive. The summation index should be back to pointing up. So now we have a dilemma. I want to get the OEX puts but the market is signaling higher prices. I had said tomorrow would be the day to buy puts. I think I'm going to stick with that. The puts I'd like to get are getting very reasonable pricewise. It is option expiration week and that could skew the prices one way or the other. If we go higher tomorrow, some divergences will appear. I have been waiting for this trade and I'm going to do it. I think it will be a good one. As always, I could be wrong. The market does strange things sometimes. There is an extra week on these options so they are pricey. None the less, if we get any strength tomorrow I'm getting them. There should be some early follow thru. We'll see. Gold was down a bit today and we are under $600. The XAU broke 130. Volume was good here as it tried to rally but the money is leaving as quick as it can. The money from commodities is finding a home in stocks. I think that is why we are rising here. Just a guess. But we are entering what should be a period of weakness. I'm going to do it. Mentally I'm trying to stay true to my conviction about getting the puts here. I'm ready to do it. Unless we are down from the open, I'll be buying some puts.

The Dow gained 4 points on good volume. Advance/declines were negative. I'm still looking to purchase OEX puts for October. We should get some type of rally here in the next couple of sessions because we are short term oversold. I am aiming for Wednesday to buy some puts. But it may not happen if we just start to fall from here. Hard to say. My mind is pretty much made up on this one though. Some data out this week and it is an expiration week. Inflation news on Friday. I hope to own the puts before then. Trying not to get too ahead of myself though. Gold lost over $20 today and the XAU got hammered, down almost 10 points. Buying puts there would have been a great trade. I don't know what that market is trying to say. Higher interest rates maybe, since it's been tied to the dollar for a while now. No inflation, as it used to be a proxy for that. Or perhaps just dollar strength to be seen ahead? It's anybodies guess, really. The XAU is at critical support here at 130. If that doesn't hold, 100 is the next stop. But really, the next trade is the OEX. Mentally I'm just trying to keep it together and not get too excited because nothing has really happened yet. The market could also do a fake-out and go higher here to new highs for the move. It isn't easy. But the warning signs are in place. It is time to get short I believe. We'll see what happens...

The Dow rose 60 points on light volume. Advance/declines were positive. I now have to decide when to buy some OEX puts. The market has told its story. The decline that has begun is for real. It's option expiration week coming up and that could give me a chance to purchase. But the timing will be difficult. There is an outside chance that we could set a new high for the year. There is also a chance that we could just start to fall. It isn't easy. I am thinking now that the day to buy puts for October will be Wednesday. But that could change. I'll need to check the economic calendar for next week. But the next trade is set. It's just a matter of when. Gold was down 7 bucks today and the XAU fell over 4 points. The volume was good on the gold shares. I need to find the long term uptrend line there and look to get long when it gets there. I don't know what the recent metals weakness is signaling. Dollar strength or perhaps economic weakness? Not sure but I'm concentrating on the overall market here. Mentally I'm trying not to get too excited over the upcoming trade. I really think that this will be one of the better opportunities this year. I am probably going to risk more than usual because of that. I need to work over the charts this weekend, establish targets and then develop the gameplan. The time is near...

The Dow lost 75 points on light volume. Advance/declines were 2 to 1 negative. Have I missed it? Could be. But I still feel that I have a chance to purchase puts sometime next week and then hold on for good gains. I could be wrong. But my thoughts seem to be in the right place so far. Now if we just drop from here, then I misjudged things and that is possible. The summation index has now rolled over I believe. We should get some attempt at a rally next week and that will be my chance to get the October OEX puts. Gold got clobbered today, down over $15. The XAU lost over 5 points. The volume increased to the downside yesterday on the gold shares and the decline is for real. The XAU charts breakout above 150 was false and I thought that could be the case. It was a bull trap. I should have tried to play it. Perhaps there will be another chance next week there also. Mentally I'm a bit tired even though I have been getting enough sleep. I am trying to concentrate on what needs to be done here and not get upset for missing the latest trade when the order wasn't filled. Who knows, maybe I'll try the upside for expiration week. But I doubt it. For now it's a matter of waiting for some type of rally and then picking the options that I'd like to buy. I think this has the potential to be the biggest trade of the year but I don't want to get my hopes up too high.

The Dow lost 63 points on increased volume. Advance/declines were 4 to 1 negative. I think this was the shot across the bow. I increased my OEX put order after the bell and it did not get filled. We were down from the start. This is not the trade that I have been waiting for but that will be coming up here soon. Probably next week. This was a short term deal and probably should have been over with today. The real deal will be coming soon. The negative breadth today should get the summation index ready to roll over soon. My thinking at the moment is looking good but the market will do what it pleases. Gold was off a couple of bucks and the XAU sold off a point and a half. The volume picked up on the downside there. It could mean that the break above 150 was a trap and that the issues will head lower from here. We'll see. Mentally, I'm trying to stay patient for the October shorting of the OEX. My thinking is that we will go and retest the highs from here. That will be the time to purchase puts. However this might be the end of the uptrend today. If that's the case I will have to reassess my scenario. I'm feeling fairly confident that my prognosis will prove correct. Not any decent economic data out for the rest of the week. Todays Fed beige book was for the most part a non-event. We will have to see how the rest of the week closes out.

The Dow rose 5 points on light volume today. Advance/declines were positive. We are overbought. The overall market was higher. I have an order in for some September OEX puts. This will be a quick trade if it gets filled. Perhaps only 2 days if it works. I am still looking for higher prices into the expiration next week and then purchasing October puts. But right now I am getting a sell signal and I'm going to try and exploit it. Gold was up over $15 today. The XAU gapped above the 150 level. The volume wasn't heavy but all the gold shares went to the upside. I thought about getting some NEM calls but held off. I am on the sidelines there. As for the OEX trade, it isn't a lot of money. I am really interested in October puts. But this looks like it could work if I'm nimble enough. I think I am. Mentally, I'm feeling good and got a good nights rest. I also feel good that the summer is now over and we can get back into the routine of the markets trading on a normal basis. Obviously nobody is jumping in to buy the market at these levels. We'll see. The volume has been light the whole way up here and that is not a strong sign. The Fed beige book is out tomorrow and I think that will be a market mover. Not much economic data this week. We'll see if my order gets filled tomorrow...

The Dow gained 83 points on light volume. Advance/declines were about 2 to 1 positive. The economic numbers came out and we traded off of that. The OEX is about 5 points from where I'd like to short it. I'll have to check the charts over the weekend. Gold lost a little over a dollar. The XAU was up fractionally. Summer is now over as far as the markets are concerned. The real deal starts on Tuesday. I have an idea of what I'd like to do. I will firm up my prognosis this long weekend. I'm ready. I also know that I could be wrong but I will let the market dictate that. I haven't made a trade in a while and this one is longer term than I usually do. That said, I feel like this is the way to go here. We'll see what happens...

The Dow lost a little over a point on light volume. Advance/declines were positive. End of the month. End of summer. Employment report tomorrow. Big Ben blabbed today. There just isn't a lot happening in the stock market lately. Gold was up 8 bucks and the XAU rose a couple of points. The gold issues are mixed here though. There was a takeover in the index today but the rest are choppy. ABX continues higher. I have no trades there for now. I'm a bit tired today. Mentally I need to get back on track. I'm still leaning towards puts for October. I'd like to see a little rise in the beginning of September and then get short. Summation index is still pointing higher. Volatility is light. I'm going to stay out until next week. Long weekend arriving tomorrow. It's a wait and see type of time...

The Dow gained 18 points on light volume. Advance/declines were 2 to 1 positive. The volume was nothing but the A/D line implies higher prices as does some of my other indicators. I am waiting to buy puts. I will probably go out to October. Gold was down a few bucks today but the XAU sold off and then came all the way back to be up for the day. I was thinking of getting some calls here on the XAU or ABX. This could be the end of its correction. However the volume is so light on the indices that I'm not sure what to make of any moves. I will have to check the charts again tonight. I'm pretty much sold on getting October puts on the OEX when it hits 610. That is the gameplan for now. I have a training class tomorrow for my day job and will not be able to blog here probably. I expect tomorrow to be an up day. I would be surprised if it wasn't. Mentally I'm trying to hold off this week for any trades until after Labor Day when we should be back to normal. I need to continue the work that needs to be done and stay focused on what needs to be done.

You know, I would really like to move from this lame-ass site. But the other sites are no better. So here I am. The Dow gained 67 points on light volume. Advance/declines were 2 to 1 positive. I do see some near term strength coming here but I will probably use it as a spot to buy puts. It is the end of the summer and it's the last week of vacations and getting the kids ready for school. After Labor Day the real fun begins. I may go out to October on the puts. That could be the prudent thing to do. I haven't made a trade in quite a while, taking July off for vacation and all. But the time is coming. I have to be ready. Gold lost around $7 and the XAU shed about 3 points. Not sure what all that means and again, the volume is light. The employment report is out on Friday and the FOMC minutes will be released tomorrow. That's probably about it for the week. Friday could be light with a long weekend coming up. And so it goes. If anything, I'd like to be long here. But I'm trying to be patient. I think a really good trade is on the horizon. I've just got to be positioned to take it. Mentally I'm trying to get into the proper mode for success. I need to keep doing the work and paying attention.

Again, this site lost my blog and I am going to have to move to another site. I can't take the bullshit here anymore.

The Dow was up 6 points on summer light volume. Advance/declines were positive. The overall market was higher than the Dow. I think higher prices are in the offing. No trades here though as I am trying to remain patient. Gold was down around $4 and the XAU lost 2 1/2 points. Volume was lighter on the decline. I have no trades there right now. I think the dollar will weaken and that will help gold but we are short term overbought. I'm trying to stay on the sidelines there as well. Not much else to say. I'm sticking with my scenario of a decline here in the fall but it may take longer to develop. October puts could be the play. I'll just wait and see for now and perhaps even get long early next week if it all lines up right. Mentally I'm getting caught up on what I need to do. Summer doldrums are here and we'll just have to see how long this lasts...

The Dow lost 42 points on light volume. Advance/declines were 2 to 1 negative. Poor housing sales was the news today with some Iran rumbling. Just trying to get through the rest of the summer really. We came back in the last hour. I'm still looking to get short but sometime next week. I'm going to wait for a divergence in the McClellan oscillator and the RSI. It will take at least a week. Gold was down a buck today and the XAU was little changed. Not sure what to do here. We are overbought and up against resistance. I'm not looking to short it here though and if anything, would like to go long. Otherwise there isn't much to report. Patience is key and I am even starting to look at October puts but they are expensive of course. I do have lots of reading to catch up on and this is a good time to do that. I am also in the process of changing online brokers for my individual stock purchases. But I'm ready to go if a trade appears on the radar. That's about it for today.

Looks like this thing has fucked up again and the blog is gone.

No blog today due to summertime outing. Volume is light and the Dow is down some. Gold rallied big and so did the XAU.

The Dow was up 46 points on light volume. Advance/declines were positive. We are now short term overbought. I would like to get some puts on the OEX. We will be longer term overbought by Tuesday if the action remains positive. It could be a tricky trade though. They all are. I feel good about it but I think perhaps a better trade will emerge later this month. But I will probably give it a try if I can get a decent price getting in. I'll decide over the weekend. Gold was off a couple of bucks. The XAU sold off a couple of points and then came all the way back. It looks like a time to get long there but I'm not sure. I need to check the economic calendar over the weekend. It's summer and I maybe should wait before making a serious trade. That said, I am getting a sell signal and we'll see what happens...

The Dow gained 7 points on average volume. Advance/declines were positive. We were up higher but sold off. Running out of steam here perhaps but the technicals look to go higher. I'm not sure and would like to get some OEX puts. But the option cycle will just be beginning. It's a tough call. If I get a solid signal I guess I'll give it a try. Gold lost around $14 and the XAU was down around 3 points. I haven't been watching this as close as I need to lately. I'll check the charts tonight. Don't know if a play is imminent. It is summer and the end of August really isn't a time to get too bold. That said, I would like to make some money. Patience isn't always the easiest thing in the world. Same goes for discipline. My thinking is the earnings in the fall will disappoint and the market will drop. How to play that and from what levels is the key. And that scenario could be wrong too. So I will keep on watching and waiting. My studies will continue and I will try and wait for the next good opportunity. It's coming...

The Dow gained another 96 points on good volume to a new 3 month high. Advance/declines were 3 to 1 positive. It looks like nowhere but up. The summation index is pointing higher again. Perhaps my scenario of lower prices in the autumn is wrong. I have missed a good trade here. Intuition counts for something in this game too. Really nothing to do now but be patient and wait. There is no other option at this time. Perhaps the earnings will be poor in the fall and that will be a catalyst for a drop. Perhaps not. I don't want to jump into anything here at the moment. Augusts trade was missed and that is all there is to it. Gold was up around $9 and the XAU rose a couple of points. The volume was light here and I have no gold trades in the works at the moment. Not much else to say. It is summer but that is no excuse to let up here. I am reading the blue book and getting caught up on other readings. I am checking the charts and trying to stay on top of things. Mentally I'm OK at the moment. We'll see how expiration week ends up...

The Dow rose 132 points today on OK volume for the summer. Advance/declines were 5 to 1 positive. The producer inflation actually dropped today, fueling the rally. So it turns out yesterdays poor action on charts didn't matter. The original OEX call theory was correct but it would have been quite a ride to hold them until this morning. None the less, I'm moving on because I think the next potential trade on the put side will work also. Gold was down around $6 today but the XAU rose around 2 points. The volume was light there so it is not to be trusted at this point. I don't see any gold trades at the moment but I will have to check things again tonight. Getting back to the overall market it looks like perhaps it will run up here for expiration week and that will be the chance to get some September puts. That could be my play. Technically there might be a little more room here to the upside but I don't think we are going to new recovery highs. I could be wrong. I'll keep an eye on the volume. Mentally, I'm a bit spent as computer problems occurred again today with no email the main one. The others I was able to work out but a new system needs to be looked into. I need to get back to constant reading of the blue book. I need to stay on top of things and do the work required. I need the discipline to come back but I also need to listen to myself. I knew the producer prices would not be high this month. The commodities have leveled off. I'm not so sure about the consumer prices. We'll find out tomorrow. I'm trying to stay on the sidelines for this cycle. September looms and I think that will be the time to go for it...

The Dow gained 10 points today on light volume. Advance/declines were positive. The market was up over 100 at one point but couldn't hold it. That usually isn't a good sign. We are getting short term oversold though. I am going to try and not do anything stupid this week. The longer term charts for the OEX look like they could be shorted. The summation index could be rolling over here. I have some September puts on the screen already and I guess that's where I'll look to. Gold was off 5 bucks and the XAU lost over 2 points. The volume has picked up to the downside on ABX and NEM. Interesting. Perhaps the market is telling me that interest rates will be rising, helping the dollar and driving the price of gold and stocks down. Perhaps not. It could be a result of the ceasefire announced and beginning today in Lebanon. Or the action could just be option expiration week related. It never is easy. We are headed into the seasonally weak period for the market though. I want to own some puts. I don't see any big rallies on the horizon for the market here. Mentally I'm a bit frustrated with not being able to get a firm handle on things. There are also some outside pressures that I'm dealing with that make things difficult. However I will not let anything interfere with the tasks at hand. The market must be studied, probed and taken advantage of. Opportunities are coming, if not here already.

My computer has been on the fritz and this is the first that I can post. There is no time for computer problems when trading. Your equipment must be reliable. The stress of not being able to do what is necessary due to hardware problems is uncalled for. Trading is hard enough, you don't need any extra hassles. The market lost 36 points today on light volume. Volume has dried up since the Fed on Tuesday. Advance/declines were negative. I think we are close to going negative on the summation index. However I did have an overnight order to get some OEX calls here but it was not filled. I canceled it when I got up this morning. I might try again on Monday. We'll see after things are checked over the weekend. This computer still needs to be dealt with. Gold was down the past couple of days and the XAU has lost around 6 points since I was last here. Not sure what to do there at the moment. I do think that calls could perhaps work on the OEX early next week. But I'm not totally sold on that idea. The light volume tells me there is no interest in the market at this time. The more prudent path could be to just sit it out another month and wait for a decent set-up. I don't know. Next week is expiration week and there will probably be some opportunity. Inflation reports are out on Tuesday and Wednesday. Also there was a major terror arrest while I was gone from here in the past couple of days. That influenced the markets to some extent. Technically we are moving to oversold short term and that is why calls on the OEX might be the play. We'll see. There is work to do over the weekend if I want to try a trade next week. I am slowly getting back into full market mode and that is what it is going to take to be successful here.

The Dow lost 45 points today. Volume was average and the advance/declines were negative. The Fed did not raise rates. The market initially rose on the news and my order for OEX puts was almost filled. It got to within a nickel but wasn't filled. The market then turned around and sold off. It did what I expected but I didn't make any money on it. Frustrating but you gotta move on. Gold was down a bit and the XAU was off a couple of points. My main problem today was my computer constantly freezing up. It is hard enough to trade and concentrate on what needs to be done without computers problems. I am going to have to buy a new computer. So I will have to do some research and shop around. It is a situation that I don't want to deal with but you need a legitimate machine to do business on. There is no getting around it. I am really getting tired of having to do everything myself but that is just the way it goes. Better to deal with it now than when I have a really big trade on. I do not have any other trades in the offing. But if we grind our way lower here I will look to get long. Gold doesn't look attractive at the moment. That's all for today. I think the market could just slow down here and get a bit boring with traders on vacation for summer. We'll see.

The Dow lost 20 points on light volume. Advance/declines were negative. I was up early but did not get a chance to buy any OEX puts. I am waiting for some type of rally to get short. I don't know if the opportunity will present itself before the Fed announcement tomorrow. I might just wait it out but I don't want to do that. It's a tricky call as usual. Gold was up about 4 bucks and the XAU rose around a point and a half. Volume was light here, way off recent activity. I have a thought of getting some puts on the XAU here as well. If the Fed raises rates as I suspect it will make the dollar stronger and hence gold should fall. The XAU is also at resistance. It is mildly overbought on the technicals. However I have been tracking the OEX here and I believe that will be the play. But ya never know. I'm trying to be patient here but there isn't much time left before the Fed tomorrow. I'm getting some mixed signals but action should and must be taken. The options expire at the end of next week. The McClellan oscillator has given a short term sell signal. These signals have been working well lately. The summation index is still pointing up though. It's never easy. Mentally I'm a bit tired but nothing that will hinder my decisions. I'd like to make some money and I'm ready to go. The fighting is still going on in Lebanon and any stoppage of the battle should sink gold also. However no end is in sight at this time. Oil rose a couple bucks today on a pipeline stoppage in Alaska. Gold did not follow as strongly as it could have. Tomorrow could hold the key for a while and I really need to get it right. We'll see how it plays out...

The Dow lost a couple points but traded all over the place today. Opened much higher, then went down fifty points and ended up where it did. Volume was good and the advance/declines were positive. I did put in an order to get some puts and then modified it. Did not get filled. I will perhaps try again on Monday. I still want to get in a play on the Fed announcement but I could be wrong. The market seems to just want to go higher. A lot of people are bullish. I will try and buy some puts though. Gold was higher and then came back to be about unchanged. The XAU was off fractionally and was much higher earlier. Thought about shorting the XAU but not sure and will need to check things over the weekend. I think the Fed will set the tone and that will be the key but again I could be wrong. The technicals seem to support a down move here but I don't know how much. Anything could happen. I need to check the reports coming out next week also. It's the weekend and I'll try to relax but work needs to be done. There could be an opportunity here and I'd like to try and take advantage of it. It is a difficult game as I've said many times before. And it's still summer so things happen that don't always fit into the overall picture. So I'll check the charts over the weekend and try not to do anything stupid on Monday.

No blog due to dentist appointment. Market was up around 40 though and the advance/declines were positive. Volume heavy. Gold off 6 bucks and ABX closed lower on the earnings.

The Dow rose 74 points today on good volume. Advance/declines were over 2 to 1 positive. The market just wants to move higher here. I suspect we will tread water tomorrow ahead of the employment report. Gold was up around $4 and the XAU rose 3 points. ABX was up good on heavy volume and it seems to be moving higher in the aftermarket. The XAU sold off and then roared back in the last half hour. Money seems to be flowing into ABX. I almost got some higher strike calls but didn't. No guts. We are really overbought there also. But sometimes it just doesn't matter I guess. Bottom line is that I missed it and that's that. I am still looking for a short play on the Fed next week. That is the plan. I think the employment report will be weak and that could be the last hurrah on the upside. Mentally I'm trying to get back in the groove. The next trade will be important because it could help set the tone for the second half of the year. I seem to be in a funk at the moment. But I think it too, will pass. I will continue to watch and wait for what I perceive to be the next opportunity. Patience is good sometimes too...

The Dow lost 60 points today and the volume picked up a bit. Advance/declines were negative. We came back in the final hour and the decline was well contained. I think we will just trend higher. I am going to wait for the Fed on Tuesday and get short before the announcement. That is the gameplan for now. Employment report on Friday and I expect it to be weak. Gold was up $12 today and the XAU rose 3 1/2 points. ABX continues higher ahead of the earnings. I have probably missed whatever I could have done here. I don't feel good about that but I am coming off of a vacation, so I can't get too down on myself. Trading isn't easy and you can't expect to just return to it and be as sharp as you need to be. I'm doing the best I can under the circumstances and don't want to rush into anything just for the sake of having a trade. Patience is important and I think the OEX put play will be the one to choose. But that could all change and I'm not too sure of anything at the moment. So I'll stay on the sidelines awaiting some clarification of where I'm headed. It is the summer so I'll most likely tread lightly. I expect the overall market will be higher tomorrow and then it's a wait and see attitude until Friday. ABX earnings after the close Wednesday and that should be a mover for that issue. Might be a sell on the news like NEM but it didn't work that way the last time. I guess I'll have to just wait and see...

The Dow lost 34 points on lighter volume. Advance/declines were even. I think we are still going higher. End of the month today. And we should get some money flows for the next couple of days. After that, who knows. Gold didn't do much and the XAU sold off and came back. ABX remains strong and it doesn't look like I can do anything before the earnings after the close on Wednesday. Looks like I missed it but you never know. It's also riskier than usual at this point because the technicals are all overbought. We'll see. Nothing else on the horizon for now. I need to get back into the swing of things. Mentally the work and concentration needs to be stepped up. I'll try. Summer is still in full bloom and I need to get it together now. Trading is a demanding task and nothing less than your full attention will suffice...

Is the trend up? The Dow tacked on another 120 points today on good volume. Advance/declines were 4 to 1 positive. How far can we go? Who knows? Summation index higher and you can't fight that. I will be waiting for the Fed meeting in August and hope to get short before it. I think that will be the surprise and the play for August. Gold didn't do much today and the XAU roared back another 4 points. ABX was up almost a buck and it doesn't look like I'll get a play in there but we'll see. Earnings for ABX are after the bell on Wednesday. The options are expensive. The volume is on the upside for sure there now so it looks like it could work. I hate to chase it though. However I saw the exact same thing happen during the last earnings cycle. NEM came out with good earnings and sold off just like this time. And then when ABX came out with its earnings it rose a couple points regardless of NEM. The relative strength is with ABX. I'd like to give it a shot if I get a chance. Otherwise not much else to say. It's the weekend and summertime so I'll enjoy it while I can. I'll check the charts over the weekend and take it from there...

The Dow lost 2 points today on good volume. Advance/declines were negative. The overall market was much weaker than the Dow. GDP report tomorrow. No trades in the OEX for now. I'm still trying to get a handle on things. Gold was up over $10 today. However the XAU was down over 4 points and the volume picked up in the gold shares. Interesting. I would still like to get long some gold stocks but now I'm not so sure. NEM came out with great earnings and sold off over 2 bucks. ABX announces on Wednesday. I still might buy some calls there. But it's a tough call. Summation index still higher so I will lean towards the bullish camp. I'm trying to get back into the groove. I need to step up my readings and get motivated. Mentally feeling good still from the vacation but I need to concentrate on what needs to be done. It's hard to get the feel after being gone for a while but time will cure that. I also need to switch brokerages for my longer term trades because TD Ameritrade is just too cheap with the interest rates as the money is parked. That is something I will try to get done in the next couple of weeks. Otherwise I suppose I'll let this week pass and get ready to trade next week...

The Dow lost a point on good volume. Advance/declines were positive. We were up, we were down and ended even. The volume has been surprisingly good. The trend is up and the summation index is pointing higher. Gold gained a few bucks and the XAU was up a couple points. I'm waiting for a pause or a pullback here but I think I missed it. I will perhaps be able to get in within a week or so. I'd like to own some ABX calls before the earnings next week. But the technicals are already overbought. We'll see what happens. The options still are pretty expensive. And I'm a bit rusty from the vacation but then again what else is new? Mentally I need to get with it because the market waits for no one. It seems the thought is that the economy is slowing and that could help gold with a weaker dollar. Of course the opposite could be true too. GDP for the 2nd quarter comes out on Friday. Might be a mover...

The Dow rose another 52 points today on good volume again. Advance/declines were over 2 to 1 positive. This is the first time in quite a while we have actually seen some follow-thru on a rally. I think we are in a summer rally. August calls will be the play perhaps. Gold was up around 5 bucks and the XAU rose over 3 points. I would like to get some calls here but I may have missed it. NEM has its earnings out on Thursday and ABX reports next Wednesday. I hate to chase things but this could be one of those times where it pays off. Or not. I think we are in a bullish market mode. I don't know the reason. The trouble with gold is that when the Israel vs. Lebanon crisis has a cease-fire, the price of bullion should drop. I might wait for that. Gold is also showing strength in the face of a rising dollar and that doesn't make any sense. So it just doesn't get any easier. I'll wait it out here for a while though because we are in the first week of the option cycle. Mentally, all is well and I'm looking forward to making some money here shortly. Gotta be ready to act though. Hopefully the market will set up now for the fall in the fall...

The Dow soared 180 points on pretty good volume for a summer Monday. Advance/declines were 4 to 1 positive. I'm not so sure this is the start of something big but who knows? I think it's more of a reaction to the expiration on Friday. Sometimes on the following Monday the market does the exact opposite of Fridays action. Gold was down $7 but the XAU gained over 2 points. I would like to get long some gold shares as my next trade. I'm looking at ABX and NEM. The technicals are oversold, longer term. I'll be looking for a pullback from todays movement and may put on a trade if that happens. I'll have to check some longer term charts just to make sure. Just starting to get back into market mode. Mentally I feel fine and am waiting for the next set-up. The vacation seems to have done me good. But we all know the real test is the trading itself. I'll need to get some ideas about the markets future. And go from there...

Well, it's been a while. My vacation is now over. The Dow lost 60 points today on good volume. Advance/declines were around 2 to 1 negative. It was an expiration Friday. The market lost ground while I was away. I think it will lose some more before it is all said and done. The Middle East blew up while I was away also. Israel is about to invade Lebanon. Market factors to be sure. I will now have to get back into market mode. The routine must return. It is. Gold lost over 10 bucks today. It generally trended higher while I was gone but has fallen recently. The dollar has pretty much gone sideways since I left. The summation index turned around and was heading higher for most of my vacation. It recently turned down. I don't know where we are going nearterm from here. The Fed meets in August and that should be a market mover. I have updated all my charts since I've been gone and am ready to trade, I think. I have some ideas but there is more catching up for me to do and I am not going to rush into anything. My mind needs to return to the routine of following the markets every day. That might take a week or so. Plus it is summer and we should see the doldrums at any time. The market will get lethargic and not really do much of anything before it gets ready to make its next big move. It is already the weekend and I'm going to relax. I'll do some catch-up work but for the most part, I'm ready to go...

The Dow gained 80 points on holiday light volume. Advance/declines were 3 to 1 positive. Gold was up $10 in the world markets and the XAU rose over 5 points. The volume was surprisingly good and I have missed this move. It isn't a good feeling. I have started my vacation and leave my home tomorrow for 2 weeks. There will probably not be any postings until I return. I am going to try and forget about the markets for a while and then come back fresh and ready to go at it. There is much work to do when I return. But for now I'm going to try and enjoy the summer for a bit...

The Dow lost 40 points today and the volume was pretty good. Advance/declines were over 2 to 1 positive. Most of the action came in the last hour due to the end of the quarter moves. Overall the market seems stronger now and the summation index is pointing upwards. So higher prices are probably on the way. How high, I don't know. Gold took off today, up over $27. Probably due to the weaker dollar and perhaps because of some Osama noise. The XAU rose over 2 points as it had most of its gains yesterday. Volume wasn't like it was before but it is the summer and money seems to be heading back into gold. I'll have to keep an eye on it when I return from vacation. A long weekend is coming up and a Monday session before the July 4th holiday. The markets really won't get back going until next Wednesday. By then, I'll be on vacation for 2 weeks. I will try to just stay away from the day to day market happenings and enjoy myself. I really think that is what's needed. There is nothing I can do about the first half of this year. It wasn't pretty. I made numerous mistakes and had some pretty big losing trades. It seems like I always did the wrong thing at the wrong time. I did a couple things right. But my trade win % sucked. I really need to come back strong in the second half. I have before, so it's not out of the question. But I can't continue the way things have been going. I really need to step it up and make the right decisions. Trading isn't easy and I really make it hard sometimes on myself with bonehead moves. I'll work on it. For the first half of the year my trading account was up 22%. It should have been a lot higher. But there will be no looking back now and I'll look forward to a successful second half.

The Dow soared 217 points on heavy volume. Advance/declines were 5 to 1 positive. The Fed raised rates another quarter point and now everybody thinks that's it. It is the beginning of the summer rally and end of quarter shenanigans. The summation index will now be pointing upwards and signaling higher prices. Gold was up over 7 dollars and the XAU climbed over 9 points. I missed it. I knew it would happen and I did not take advantage of it. The weeklies were all back in the buy zone and I just sat here. I stopped paying attention and trading because I have a vacation next week. I shut it down and went on stand-by mode when I should have been paying attention. I could have went out an extra month but was too stupid to think of it. I hate missing opportunities. There is no sense in doing all of the work if you're not going to take advantage of what's there. It is frustrating. It happens a few times a year and it does me no good. You have got to take chances in the game. You pick your spots where the odds are in your favor. This, I did not do. So now I can leave for New York and think about what an idiot I am. But I will probably just try and forget about it. Lamenting on it does me no good. It would have been a good trade had I been good enough. But that just wasn't the case. We will see the opposite of todays action at another time later this year when the Fed raises rates and the market tanks. I guess I'll have to wait for that. This is the toughest game in the world...

The Dow was up about 50 points. Advance/declines were positive and the volume was light. Had a good run in the last couple of hours. The overall market was stronger than the Dow. Fed tomorrow and I think we are heading higher regardless of what the Fed says or does. Just my guess on the markets Fed reaction. Gold was down 3 dollars and the XAU was unchanged. Volume nothing much there either as we are really in the summer mode. There will be trades but they won't be as plentiful as in the autumn is my guess. I'm leaving on vacation in less than a week. After the announcement tomorrow, I believe the markets will really slow down. Holiday weekend and such. Mentally I'm in stand-by mode. Physically, I'm exhausted from playing too much golf in the heat yesterday. Awaiting the Fed...

The Dow lost 120 points today on OK volume. Advance/declines were over 2 to 1 negative. Volume picked up a bit to the downside. Don't know what to make of it. Still waiting on the Fed and then a long weekend. Tuesday is a holiday so Monday will be a non-event. Gold was down over 3 bucks and the XAU lost over 3 points. Volume picked up a bit here on the downside also. No trades in sight. Looks like I'll be waiting for the August cycle unless something just stands out over my vacation. But I doubt it. Mentally I'm doing fine, preparing for some time off. Playing golf this afternoon and it is humid so I will be preparing for the east coast conditions. Otherwise, the trend seems to remain down for stocks. Perhaps the Fed can change that on Thursday. Technically, we're not at overbought or oversold extremes. Summation index still pointing down and in negative territory. Time to sit it out for a while, I guess.

The Dow gained 56 points today on light volume. Advance/declines were positive. Seemed like a slow day with a rally near the close. No trades. Gold was unchanged but the XAU gained a point and a half. Volume light there also. Just a summer Monday I guess. Fed announcement on Thursday, so I suppose it's just a waiting game. I be leaving on vacation in a week so I'm really just hanging around. Not doing all the work necessary, just the essentials. Mentally I'm looking forward to a nice break but as I've said before my brain is already in stand-by mode. Not much else to say...

The Dow lost 30 points today on light volume. Advance/declines were about even. Not much to write about that. We were higher earlier in the day. Gold was up a couple bucks and the XAU was up a couple points. I'm hoping I haven't missed the next upmove in gold here. Time will tell. The volume is weak but the sellers seem to have disappeared. The overall stock market acted better than the Dow today. Summation index still pointing down. Fed meeting next week and the market could feed off of that or it could just be a non-event. The weekend is here, summer is here and I'm almost ready to go on vacation. This is a rare time for me. But the break is needed in light of the terrible trades of May and June. Not much else to say. Kind of in standby mode as I've said before. Summertime...

The Dow lost 60 points today. Advance/declines were about 2 to 1 negative and the volume was light. Leading indicators were weak. Summation index still pointing down. Gold lost about 5 bucks and the XAU was down a point. Not a lot of volume there. Perhaps the summer doldrums are upon us. Tomorrows volume could tell that story. No trades in the offing and not much else to report here. I am getting very lazy and summer for me has begun. I've already said all that has to be said for now so that's it from here...

The Dow rose 104 points on good volume. Advance/declines were 3 to 1 positive. So maybe a good summer rally will begin. I still don't think the summation index has turned positive but another day like today and it will. It seems to be a lack of sellers lately. Gold was up 8 bucks again and the XAU rose over 5 points. The volume wasn't all that great here but perhaps I need to adjust my volume expectations for gold. Just a thought. We have broken the downtrend line in the XAU. I suppose I could look to get long on a snapback to that line. Gold itself is at $590. I'd like to see it build a base but perhaps it won't. Time will tell. Mentally I'm in standby mode still. Same scenario with a vacation coming up and an extra week on the option cycle. So let the summer begin. I'll try not to take on any trades for now and see what happens. Fed meeting next week and I suppose that will set the tone for the week. Otherwise, I'm just gonna take it easy.

The Dow gained 32 points today on slightly better volume. Advance/declines were negative. The overall markets were weaker. No conviction here. I have no trades. Gold was up around 8 bucks and the XAU rose around 3 points. The volume wasn't that good. I'm looking for lower prices. Not much else to say. Extra week in this option cycle. Mentally I'm in standby mode until after I take this vacation. So really I'm just hanging out. Still watching the markets everyday and doing the work. But there most likely will not be any trades until I return. It will really be a summer of relaxation. And who knows? Perhaps the rest will do me good.

The Dow lost 72 points today on light volume. Advance/declines were about 3 to 1 negative. I would expect the advance/decline line to pick up here a bit. The summation index is pointing down and it can't stay that way forever. I'm not saying it will be a rip-roaring advance but we need to turn things around here. I have no trades in mind as my vacation looms. Gold was down over 9 dollars today and the XAU lost over 3 points. No trades there either as I will let a base develop if it can. I'm in kind of a standby mode with the vacation and all. Mentally I'm keeping an eye on things but there may not be any trades until August and maybe even not then. I need both the overall market and the gold market to stabilize here and set things up for when I get back. However the markets rarely accommodate you. And so it goes.

The Dow was unchanged today. Advance/declines were almost 2 to 1 negative and the volume was heavy. The overall market was down. Option expiration. There isn't much news coming out next week. I'd expect it to be slow. Let the summer doldrums begin. The Fed doesn't meet for another 10 days and even that may not move things. Gold was up over $10 today but the XAU fell over a point. Not a lot of correlation here lately. I'll be looking to get long the gold shares here at some point. Mentally I'm looking forward to taking a break. I haven't taken a vacation since 2002. Not to mention my trading has sucked the past 2 months and I need to get away. It's the weekend and it's the beginning of summer. If I'm smart, the trading will take a back seat for a while and I'll regroup. I will try and look out for autumn and plan my strategy for then. Sometimes doing nothing is the right thing.

The Dow was up 198 points on heavy volume. Advance/declines were over 4 to 1 positive. It was the bounce I was waiting for and I did not take advantage of it. The profits would have been huge. But it ends up being just another missed opportunity. Boy how I hate those. It really bothers me, even more so than losing money. The first time the technicals called for it, it didn't happen. Not the second. I lost some money and headed for the sidelines. I was wrong to do so. You gotta believe in yourself. I failed again. Gold was up over $10 at one point today. The XAU ended up over 6 points. I sat on the sidelines. If and when the XAU gets back down to 120, I'm getting some calls even if I'm on vacation. Trading can be very frustrating sometimes. This is one of those times. The rewards are great but I haven't had any in so long that I forgot what that was like. I've got to be more disciplined and motivated. What can I say? I'm going on vacation in a couple of weeks. I really don't need one but it was planned some time ago. I'll refresh and rededicate myself when I return. I'm thinking this will be a slow summer, but who knows? We haven't gotten back to the downtrend line that started in May, even with a 200 point gain today. So it's back to the drawing board and time to relax at the same time. The posts here will probably get shorter for a while.

The Dow finally bounced today, up 110 points. Advance/declines were slightly positive and the volume was good. I really did want to buy some OEX calls today but I didn't. I'm not a believer in this rally. The overall market was much weaker than the Dow. But we are so oversold that another day or two of rally isn't out of the question. Gold was little changed today but the XAU rose over 2 points. I think a base probably needs to be built here before any rally of conseqence. I could be wrong. Mentally I'm out of my element. I'm not at my house and the normal trading enviornment. That is important. You don't realize these things until they actually happen sometimes. Controling your trading enviornment is important. You have to have the proper equipment. You have to be in the right frame of mind. Routine can be very vital to your success as a trader. The work has to be done every day and you have to be consistant. I am taking a break here but the market never stops. Getting back to the markets themselves, I don't think this is the end of the recent worldwide liquidation. Probably just a pause before we begin a long, dull summer. I really don't see anything on the horizon that would get anybody excited about buying stocks. We'll see what happens...

The Dow lost 86 points on heavy volume. Advance/declines were over 3 to 1 negative. The worldwide liquidation continues. When the market is oversold and stays there means trouble. I would like to get some calls but I already tried that and lost. We will bounce hard at some point this week. Perhaps tomorrow on the consumer price data. But it's just a guess. Gold got slammed today, down $44. The XAU lost around 5 points at last juncture. I wanna get some calls here too but go out a month or two. But again, in times like these it's really a crapshoot. I am on the sidelines and guess I'm thankful that I didn't lose more the past couple of months. But don't get me wrong. My trading has flat out sucked and I need to work on it. But I am taking a break here and going on vacation in July. I might possibly have a trade in while I'm gone but probably not. Mentally I'm out of my routine for the rest of the week so I'm taking it easy. Trading is a most difficult game and I guess it wouldn't hurt to take a break every now and then. I'll be looking for that bounce in here soon and try to keep myself from doing something stupid.

The Dow dropped another 100 points. Advance/declines were over 3 to 1 negative and the volume was average for lately. I dumped the OEX calls I bought for around a 50% loss. I just couldn't hold on to them any longer. We are really due for a big bounce. It just isn't happening. We are way oversold. There is something going on in the markets but I sure don't know what it is. The technicals are not working the way they usually do. My trading has been horrible for two months but there is not much I can do about it now. I would like to take a shot with some Gold calls here but I am going to try and stay out. Nothing is working for me. I should feel bad about the OEX loss but I blew that one when I didn't get out on Friday. And still the market should have rallied today and it didn't. Inflation data out the next two days and that will move things for sure. But I really should try and stay out. I'll try my best. Mentally it's tough. You put in the time and the results just aren't there. You can't just give up but you sure feel like it sometimes. It's just one of those things. A bad streak in the year. You gotta move on. I have taken some big losses this year already. My win % is terrible. I can't try and trade my way out of it, that's for sure. I'm going on vacation in July. I might just shut it down until I get back. But something in me wants to keep going. I'm a trader and that's what I do. So onward I will go I suppose. My neck hurts and I haven't been sleeping good. No excuses though. I just haven't been good enough. I was lucky to get out when I did today because I didn't put in the usual stop loss order in the morning. Gold is right at the uptrendline and it could rally from here this week. The technicals say buy but they haven't been working lately. Perhaps I just want to put on another trade before the end of the week. Discipline and self-control are important. Sometimes, they are hard to come by. It's also a question of where exactly do I go from here? Perhaps some time off is really what is needed. I can't go on like this, that's for sure. It's hard to step aside but I think that is what is needed and the markets will always be here when I get back. I might miss a post or two here this week since I won't be home the next couple of days. Another loss booked today and it doesn't feel good. Gotta move on...

The Dow lost 46 points today on average volume. Advance/declines were negative. I still am holding my OEX calls. They are showing a loss. I really should have sold them today but I didn't. And therein lies the problem. I had a chance to get out without a loss and I didn't take it. We are up against a downtrend line and I think we can break through it. But if we don't, I'm dead. So I'm probably dead. No discipline. I really need to get my act together. But it won't happen with this trade. I don't know why I can't do what's necessary when the time comes. It is frustrating. The market tone has changed and I must adjust to it. I know this yet I just can't see to bring myself to do it. That has to change or I might as well forget this. The market came back big yesterday and there was no follow through. That isn't bullish for the market. I needed to get out, that's the bottom line and I didn't do it. I'll suffer for it next week. Gold was down a buck and the XAU was off a point. We are at the trendline that has held for weeks. Next week will be key. I think we will hold but do I want to attempt a trade there? I just don't know. My mind is not where it needs to be. Mentally, I'm feeling down on myself. This isn't a good way to be. The weekend is coming up and I don't need to be feeling low. But what can I do? When you play the game and don't have what it takes, you're a fool. The entry on this trade was shit and it goes on from there. Not much else to say. I shoulda stayed out and I should have got out when I didn't stay out...

This piece of shit site has been down for a couple of days. Yesterday was turnaround Thursday as we were down around 200 points and came back to be up 7. The volume was HUGE. I bought some OEX calls and they are slightly profitable at the moment. Gold got slammed yesterday also, down around $15. The XAU was down 9 points but also came back to be down only 3. Gold itself is at an important point. It is right at an uptrend line of many weeks. It looks like that it might hold here. Perhaps some calls would be in order. I'm not sure. I have to focus on the OEX trade and probably should exit it today due to all the recent volatility. Mentally, I'm tired but need to concentrate on what's going on. The summation index is pointing down again. However a good day today could change that. Trading isn't easy. This is a lesson that must be learned.

The Dow lost 46 points today on good volume. Advance/declines were about 2 to 1 negative. The S&P 500 wasn't down as much. I would really like to step up and get some calls here but it's tough. The prices are still pretty high. The volatility is confusing. The summation index might be pointing back down today. A lot of crosscurrents. But you've got to step up to the plate and do something sometimes. And tomorrow could be the day for me. Gold was down $14 and the XAU lost 4 points. Volume was good to the downside. We are right at XAU support. I'm going to try and stay away from this for now. Gold is at $625 and I think it can go to $575 before support kicks in. But you never know. Mentally I'm a bit unsure of myself but I think the overall market can rally from here. If it doesn't, it will get ugly fast. I need to get some decent rest and clear my thoughts for the next trade. There is also a chance that I may just do nothing. But I don't want to go that route. I need to check the economic calendar and see what's on tap for the rest of the week. The dollar is firming here also and that won't help gold. I need to get focused and concentrate. Perhaps good things will follow...

The Dow lost 200 points today after the Fed chairmans comments. Volume was average and the advance/declines were over 3 to 1 positive. Can't say I saw something like that coming and now it looks like lower prices are in the offing. I'd like to get some OEX calls but I'm unsure of myself right now. The volatility has thrown me for a loop. I'll wait for a decent signal and then go from there if it happens. Gold was up 7 bucks today but the XAU lost over 3 points. I had a brief thought of getting some puts this morning but my mind hasn't been focused as it needs to be. Don't know if that would have done anything anyway. The markets are in a state of flux. The movements are pronounced. I need to adjust to that. I think the summer will be slow. The time to make some money is perhaps now. I don't know if I can take advantage of it. Mentally, I'm not where I need to be. The discipline needed is a lot. I haven't had it lately. Things just don't happen to be successful. You've got to make then happen and I haven't been doing that lately. So it will be the sidelines for now. I really haven't got a choice. I don't want to do anything stupid but you never know. We'll see if we can make a comeback tomorrow or if we go to new lows.

The Dow lost 12 points on average volume. Advance/declines were 2 to 1 positive. The overall market was higher. The market is going up, plain and simple. Bonds rallied big on weak job numbers. I don't have any OEX trades in sight for now. Gold was up over $5 and the XAU rose almost 2 points. I'd like to get long here but it might be too late. NEM is leading this time. I don't really know what exactly to do here so I'm on the sidelines. Treading lightly. I think if we get a pullback in the market, I'll get some OEX calls but who knows? Right now it doesn't look like a pullback is in the cards. The weekend is here. I'll be taking it easy. Mentally I'm having some trouble coming up with a good trading scenario for June. I just don't see any solid set-ups right now. And I don't want to get into a short term mode. It burned me last month. Perhaps I'm just hesitant from the last few losing trades. Whatever the case, I won't be making any money while I'm in this funk. I need to get it together but it might take a while. Perhaps waiting for my vacation to pass will be the best course of action. We'll see.

The Dow up 92 points on OK volume. Advance/declines were 3 to 1 positive. We are going up. How far and for how long is the question. I would like to get some OEX calls but they are expensive. There is also a chance that we will go sideways. But the market does what it wants and we could go to new highs too. Employment report tomorrow and todays action tells me we will continue higher regardless of the numbers. We'll see. Gold was down $15 today and the XAU sold off but came back to be down only a point. Interesting. The gold shares again are holding up. I'd like to purchase some calls here too but I'm not sure of the timing. It seems there is still interest in owning the gold shares. Hard to say what will happen there if the dollar rallies. I'm a bit tired today but that's no excuse for indecision. Mentally I don't know why but my mind can't seem to find a good trade at the moment. I might be too late for the OEX calls. Indecision won't be an asset in this game. But there is nothing lost on the sidelines except for opportunities. I am going on vacation in a month so there will be a disruption in my trading. I'll handle it as best I can. Only 2 weeks left for June options. Don't see anything happening yet but ya never know...