A mixed bag to begin the holiday shortened week as the Dow gained 37 points on very light volume. The advance/declines were negative. The summation index is still heading lower. The overall market was much weaker than the Dow with the NASDAQ leading the way down. It will most likely be a thinly traded week so I don't know how much meaning we can give to the price movement. Most major players won't be back at their desks until the new year. The S&P 500 remains short term oversold. Gold was up $18 on the futures. The US dollar was a bit lower, while interest rates jumped. The XAU was up 3 points and GDX gained around 3/4. Volume was light. The short term indicators for GDX are pointing up and it's not yet overbought. However the 30 level is proving to be stiff resistance for now. A break above there with good volume will lead to higher prices for GDX. I'm still looking at the January calls there but would prefer to buy them at oversold levels. However if GDX does get through 30 I may just jump on board. There's also the option of going out to the February option cycle as well. Mentally I'm feeling OK. The VIX was higher today which fits the overall market drop. It is more short term oversold than overbought. However I'm not getting a good idea of what to expect next here. Still above 20 on the VIX. We'll probably remain on the sidelines until next year at this rate. Europe and Asia had gains overnight. We'll see how it goes tomorrow.