We opened higher and closed lower today for a one day reversal to the downside as the Dow lost 17 points. We were up over 100 at one point. Volume was average while the advance/declines were positive. So we are hanging around waiting for the next catalyst. We're overbought at this point so I think the next sustained move will be down. That doesn't mean we can't wander up into the May expiration. What it does mean is that it might be a tough game to trade the index options going into that. We'll see. Gold lost $10 today and the XAU dropped 2 1/2. ABX and NEM lost 1/2 while GG dropped over 3/4. Volume was light as usual. The GG calls are fading fast. Oversold though but will the bounce, if we get one here, be enough? No reason to own gold now really. NEM earnings were OK but no rally in the stock. So why bother to wait for GGs earnings? So it could be time to cut the loss and focus my attention elsewhere. Mentally I'm doing OK. Not enjoying sitting in a losing trade but what can you do? We'll see how it goes tomorrow and take it from there.