The Dow gained 3 points today in pretty much range bound trading. Volume was good again, while the advance/declines were positive. Very overbought and staying there. Summation index continuing to move higher. The overall market was much better than the Dow. It's possible this is a momentum rally and will simply continue higher. That said, I did buy some OEX puts this morning. They are priced where I bought them for now. With all the strength in the indices, I don't expect to hold on for too long. The stop-loss order is in place. Gold dropped $14 today and the XAU fell 2 1/3. ABX and NEM were off 3/4, while GG lost a point. Volume was a bit better than lately. The gold shares are still outperforming the metal itself. The dollar fell a bit but it didn't help gold. I took a look at the GG puts but did not seriously consider a trade there. The earnings will be due tomorrow. Mentally I'm tired. Trading the OEX will do that. I need to get some more sleep and will do that tonight. So I'm in the OEX put trade and hopefully not for long. We are overbought by any measure. And we've been that way all week. Some type of downside action is overdue. However the market will go where it wants and do what it pleases. If we do get some type of drop, I'd like to exit this trade and get some OEX calls for expiration week. We'll see.