Tuesday, August 15, 2017
Another day of hanging around as the Dow rose 5 points on light volume. The advance/declines were almost 2 to 1 negative. The summation index is still moving down. The overall market was a bit weaker than the Dow. Waiting for what's next as far as the market goes. It is expiration week so I would expect some more upside at some point. I'm still leaning towards the SPY September puts eventually. Just waiting on some type of signal. GE dropped about 1/4 on light volume. Still no love for GE. Gold lost a dozen on the futures as the US dollar rose again. The XAU was off over a point and GDX shed 1/4 on light volume. Feels like the dog days of summer. Mentally I'm feeling OK. Volatility has been reigned in for now but could return at any time of course. It is probably best to simply remain patient here. There isn't much time left in the August option cycle and plenty of time left in the September one. So patience here is required. I'm not going to try and force anything. Sometimes the end of August gets pretty slow with the final vacations of the summer. Europe and Asia were higher overnight with the exception of the Hang Seng. We'll see how things shape up overnight.
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