We had a mixed bag to start off the trading week as the Dow was lower and other major indices higher. The Dow fell 36 points on light volume. The advance/declines were slightly negative. The summation index continues higher. Both the NASDAQ and the S&P 500 sported gains with the NASDAQ leading the way. As long as the small stocks continue to show relative strength, the trend is up. The reverse head and shoulders pattern for the S&P 500 implies new all time highs are conming soon. Gold was off a few bucks on the futures. Both the US dollar and interest rates finished little changed. The XAU fell 1 1/2, while GDX shed 1/3. Volume was pretty light. I still have an open order in for some GDX January calls. Mentally I'm feeling OK. The VIX finished little changed and is short term oversold. The low reading here suggests that the rally has legs. I'm inclined to agree. Plenty of time for ideas with an extra week in the November option cycle. For now we'll be patient and wait for the next set up. Asia was mixed and Europe lower to begin the week. We'll keep an eye on the overnight headlines.