A fairly quiet option expiration Friday as the Dow was up 15 points on expiration heavy volume. The advance/declines were slightly positive. The summation index is still heading lower. We did get a signal last night on the McClellan oscillator for a big move with two days. We'll see if that pans out on Monday. Both the NASDAQ and S&P 500 posted samll losses. The S&P 500 remains short term overbought as it has been for most of the month so far. I'm still looking for some type of decline here soon. The upside blow off that I thought might happen has not occurred. Patience for now as we roll into the July option cycle. Gold dropped $34 on the futures. The US dollar was higher and interest rates finished flat. The XAU lost 1 1/2, while GDX shed 1/2. Volume was a bit above average. Considering the drop in gold itself the gold shares held up pretty well. Mentally I'm feeling OK. The VIX was just a bit lower today. The short term indicators here are now at mid-range. Seems like the VIX could go either way from here. It was tough week for me with two losing trades in two days. Perhaps I'll simply stay away from the short term ideas as they usually don't work. But as I said before we deal in probabilities so nothing is guaranteed. You also have to keep moving along in this game because the markets just keep on going. My thinking is that the next trade will be the GDX calls at some point but we'll see. I'll be checking the charts this weekend as usual. Europe and Asia were lower to close out the week. It's Friday afternoon and time for a break.