Back to the upside today as the Dow gained 217 points on light volume.  The advance/declines were about 5 to 1 positive.  The employment numbers were better than expected and today what Europe said yesterday was viewed as positive.  What?  Yesterday Europe was viewed as negative.  This is the kind of game we play.  That is why we stick to the technicals and they have rolled back up for the stock indexes.  It is a dicey affair at the moment.  We're basically moving in channel with a slight upward bias.  The volume today was light and we never trust light volume rallies.  But it is a Friday in the summer.  So the questions continue and the trading is never easy anyway.  Not a lot of data out next week so it could be slow.  However we are still at the ongoing risk of a headline.  GE was up 3/8 and the volume was light.  I've decided not to attempt a trade here for now.  2 weeks to go before option expiration.  Gold rallied a bit as the US dollar got crushed, which didn't make any sense considering the jobs number was better than expected.  The gold futures rose $18.  The XAU was up 2 1/2 but was higher before the last 15 minutes of the session when the gold shares abruptly sold off.  ABX and GG rose around 1/2, while NEM was up a buck.  Volume was nothing special.  My ABX calls remain in the red.  I still plan on holding them for a while.  Gold has been in a sideways channel as well since the middle of April.  Still waiting for a breakout one way or the other.  Mentally I'm feeling OK.  Looks like we should continue to drift higher here.  I may try the August OEX calls on weakness next week but I may be too late.  With all the data out this week when it was all said and done the Dow gained 20 points.  That is a lot of trouble for nothing.  Perhaps on the sidelines is the place to be until all the players return after Labor Day.  I'll check the charts over the weekend and go from there.  It's a Friday afternoon in the summer.  Time to take a break.