The Dow rose 99 points on good volume. Advance/declines were positive. We opened higher, sold off and then came back. There was news about Bear Stearns selling a piece of itself and that was viewed as positive. But think about it. Why would a major brokerage sell part of itself? Because they need to raise money to cover their losses. Eventually the crowd will figure this out. I still say we are going higher though and I am looking at the OEX calls as I've said before. Gold lost 3 bucks today and the XAU dropped around 3 points. NEM got clobbered on some bad news. Volume was very heavy there as well. ABX was down over a buck at one point but came back somewhat. The gold shares needed a rest and they're taking it. GE was up a bit and the volume was nothing special. I'm still waiting for some weakness on GE to get long. The weekly chart looks like it's due for a pullback. The ideal scenario would be to retreat to the up trend line. Mentally I'm feeling fine. At this point it's a waiting game for a decent signal. There's nothing else I can do really. And so it goes. End of the month coming up which could skew things one way or the other. Not much else going on. Sometimes it pays to be patient. It isn't always going to be like it was last month, with huge moves. So you can't expect that to repeat itself and you have to act accordingly. It isn't always easy but it is the smart thing to do.