An up and down session as the Dow ended the day basically flat, with a gain of 3 points on summer average volume. Advance/declines were slightly negative. Good news from Intel led the way but it wasn't enough for a sustained rally. Still overbought here as the market seems to be holding up for the expiration on Friday. I canceled the OEX put trade with only a couple of days left in the July cycle but there's still a chance that I may try tomorrow. Very risky though. Gold dropped around $5 and the XAU was off 1/4. ABX, GG and NEM all had fractional moves on light volume. The dollar was a bit weaker today. Gold share earnings are due in a couple of weeks. I was going to play the ABX calls on this news but now I'm not so sure. The technicals are oversold here on a daily basis. However there doesn't seem to be any conviction in the gold market here as we simply move sideways. Mentally I'm a bit tired, did not sleep well. It is summertime in the markets. I really think that we are going to slow down even more as we continue into August. I could be wrong. If I don't try this OEX put trade then I'll be on the sidelines for a while I presume. I may simply wait to try the puts in autumn. So we'll see. There's 5 weeks in the August option cycle, which means that there is no hurry to do anything.