Just another day of hanging around as the Dow gained 83 points on light volume. The advance/declines were positive. The summation index continues higher. The NASDAQ led the way today and that's a positive. But we didn't have any sort of real rally to the upside. We are grinding our way higher for now. The S&P 500 remains overbought on the indicators for all timeframes. I'm still considering the SPY October puts and am waiting for what I believe to be the right time to purchase them. Trying to remain patient for now. Gold continues to rise as the futures jumped $34. The US dollar was lower and interest rates dipped slightly. The XAU climbed 4 3/4, while GDX added a point. Volume was a bit above average. The gold shares remain overbought but the fear of an all out war in the Middle East had taken over. I still think that the gold shares are due for some selling but the markets certainly don't listen to me. I won't chase the GDX calls here but of course they can go higher in this kind of environment. Mentally I'm feeling OK. The VIX moved lower and is still short term oversold. Waiting to see what happens at the 200 day moving average and we are almost there. Asia was generally higher and Europe up overnight. We'll see how it goes tomorrow.