Hanging around on a Monday following a long weekend as the Dow was off 128 points on good volume. The advance/declines were negative. The summation index continues higher. Beginning of a new month and waiting on Fridays employment data. The overall market was positive with the NASDAQ leading the way by far. That is a plus for the bulls. A new all time closing high for the NASDAQ as well. The S&P 500 remains short term overbought. I did place an order for the SPY December puts overnight but it wasn't filled. Might try again tomorrow. The S&P is both short and medium term overbought. But that doesn't mean it can't stay that way. However we do see some sell signals beginning to show up on some of our other indicators. The SPY put trade idea is not without risk but aren't they all? Gold was off twenty bucks on the futures. The US dollar was higher and interest rates finished flat. The XAU fell 2 1/2 and GDX lost 7/8. Volume was light. The short term indicators for GDX are still at the mid-range level but are trying to turn down. No GDX trades in mind right now. Mentally I'm feeling OK. The VIX is still moving lower and remains short term oversold. It has remained oversold for a while and that conditon won't last forever. For me, it's another vote on the side of trying the index puts. We'll see. Asia and Europe were higher in last nights trade. I'll keep an eye on the overnight headlines.