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June 13, 2005
Placer Dome follow-up, Mon., June 13, 2005, 11:57 AM
After every trading decision, you need to review your tactics. With respect to my decision (written up in the Week #23 in Review) to sell GM (NYSE: GM) @ $35 and buy goldminer Placer Dome (NYSE: PDG) @ $13.90, the day started out well. Gold bullion is rising in spite of a red-hot USD, goldminer shares are mostly up, and PDG is out-performing the other majors on my "A" list: NEM, ABX and GG.
Here is the proof that my portfolio is gaining by selling GM and buying PDG at about 11:00am Friday:

Here is the charts of my "A" list of goldminers. Note that Friday afternoon and today, at least, PDG is outperforming:

Finally, here is a screenshot of the goldminers trading just prior to noon today:

So far; so good. The point here though is that after every trade you need to follow through to see confirmation that the market is going your way. Once the trade is on, you cannot be wasting time thinking about other things; you need to focus on the specific action(s) you took.
You need to take responsibility. You are the monitor. You need to totally concentrate on the serious action you took. And, you need to do that until you exit the trade.
As for my writing, I was going to do a special study on Placer Dome, but have to apologize in that I'm not up to it. I'm finding it increasingly difficult to get motivated to write. Normally, I just look at something, and in the next five minutes an article appears. Writing thousands of words a day in the limited time I have is usually easy, but it is difficult to do something " anything " without motivation.
The changes I plan are going to be good for the readers. There will be a new Daily Investment Report. A development company is planning it now. The first presentation level will be free, but given that the development company is going to take over all administration aspects of my website/blogging, leaving me free to be strictly creative, then there will be in-depth studies that I'll do that will be chargeable.
But the key point is that the first level report will be significantly better info than you have ever received from me to this point. I know you'll like it.
This blog will transition into the Cara Daily Planet, which will remain free, and will also contain the Week in Review. You will appreciate the enhancements planned for the graphics. Thankfully, I will soon no longer have to spend hours taking screenshots and administrating the web production.
After I manage to get through this conversion, as well as family issues that have been an emotional burden, I am going to strive to do the best I can.
We'll have to wait and see the results.
Posted by Posted by Bill Cara on June 13, 2005 12:13:34 PM | Category: Cara Today in the Market

I just wanted to say God bless you for writing this blog. It has been very helpful to this old mailman as I try to stay ahead. Just remember this while you deal with your parents situation, that you could be an only child, or have dying children, or any of a dozen other worse situations. When my dad was going through a similar situation it always seemed there was somebody at the doctors worse off. Like I said, and I'm sure many others would agree with me, you are appreciated and a blessing to many others, and I will keep you in my prayers. I know from experience, prayer can change things. And for heaven's sake, if you need to take a few days off from writing, anybody with any complaints can take them to Hel-en Waite.
John
Posted by: John Corkill at June 13, 2005 8:05 PM [link]