Kind of a drift to todays price action as the Dow gained 18 points on light volume.  The advance/declines were almost 2 to 1 positive.  Still overbought on the stock indices and perhaps we'll hold things up until expiration.  The summation index continues higher.  Bernanke spoke and it didn't have much of an effect on the markets.  I'll be looking for August OEX puts from here on out.  As usual, timing is everything.  GE was up 1/8 and the volume was light.  Earnings due Friday.  No trades here for me.  Gold fell today as the futures dropped $13.  The US dollar was a bit higher.  The XAU was off 2 1/2.  ABX, GG and NEM all had fractional losses on OK volume.  The gold shares could be in for a rest now, the technicals are dropping from overbought.  My October ABX calls are still in the black.  Mentally I'm feeling tired.  Overbought, staying there and it is the same old tune for the stock indices.  Seasonality from here is unfavorable though.  There will be a time to own puts in the next couple of months.  When the summation index rolls over again, that will be the time to act.  For now patience is required.  Gold rallied for a couple of weeks but now there is strong resistance at $1300.  If we can get through that it will paint a better picture for gold.  2 days left in the July option cycle.  We'll see what happens tomorrow.