Another day to the upside as the Dow gained 61 points. Advance/declines were positive. Volume was light and a re-check of yesterdays volume shows that it was light as well. I never really trust light volume rallies. That could be a problem here. Perhaps we will get a higher high with a lower RSI after all. No OEX trades for now but I will be looking to the September puts at this point. Gold gained $5 today and the XAU rose 1 2/3. ABX, GG and NEM again had fractional gains on light volume. Hard to say where gold is headed from here. We are oversold but working it off slowly. If the overall market does drop, the gold shares will probably go with it. That said, I am leaving in an open order to purchase some ABX September calls. Oil was strong again today with the dollar weaker and gold didn't do as much. Perhaps I'll wait for the gold/XAU signal. We'll have to see how things play out. Mentally I'm doing OK, slept well enough. I have noticed that the Bollinger bands are converging on the OEX. This usually portends a dramatic move one way or the other. My thinking is that it will be to the downside but it's anybodies guess. 2 days left this week and no August option cycle trades. Patience cannot be underrated.