The market just can't get any traction. Dow down again, around 25 points. Advance/declines about even. Like I said previously, when the breadth starts to deteriorate, I think we will be in major trouble. But right now we're oversold and I would expect some type of bounce or rally. It's really a dull, no interest market. The worst summer doldrums I've seen in a while. Gold was up a couple bucks today and the dollar hit a 4 month low. That didn't get the XAU moving, in fact it was down a little. NEM continues to show good relative strength and was up another 40 cents. Volume was light again though. I'd like to see a pullback in NEM here to get long again. But who knows? I am concerned about the overall market though. We really need some buying in here soon. We now roll to the August options, which have 5 weeks on them. Premiums will be higher. Now comes the hard part which is patience. I'll do my best. But if a good signal appears, I'll have to act on it. Might be back this weekend but it is the summer...
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