The Dow lost 38 points today on light volume. Advance/declines were negative. The market is digesting yesterdays big gain before the next move. The employment report is out on Friday and that should be the next major catalyst. We are still hovering just above the 200 day moving average on the S&P 500. I'm still on the sidelines regarding the August OEX options. Gold was up a couple bucks today and the XAU closed flat. ABX was up 3/8, while GG and NEM had fractional losses. Volume was light here as well. The dollar continued lower and gold cannot rally. I'm not sure exactly what is going on with that relationship lately. I still may try the September gold share calls though. We'll see. Mentally I'm feeling OK, could have slept better. So it's the beginning of August and we continue in a positive mode for stock prices. As I said yesterday the question is how long can it last? I'll try and remain patient for now. As for the gold shares, we are in the seasonal strength period for gold. That doesn't mean that higher prices are in the offing but it should help the bullish cause there going forward. The volume has been very light for the gold complex and that makes me hesitate to put on a trade here at the moment. Summer doldrums for now in gold. We'll see what happens Wednesday.