Digesting yesterdays huge gains would describe todays market action as the Dow gained 16 points on good volume. The advance/declines were almost 3 to 1 negative though. The summation index did turn back to the upside yesterday. Still short term overbought on the stock indices. I have no trades in mind here. GE was up 1/4 on good volume again. We've broken out from the congestion zone. If we get a pullback towards the zone, I may try the April calls there. I do not want to chase things here, so patience is advised. If a pullback happens I'll consider the trade. Gold got clobbered again today, off $50. The US dollar was higher. The XAU dropped 6 1/3. ABX down 2 bucks, GG lost 1 1/2 and NEM fell 1/2. Volume was heavy. The gold shares and gold are in what looks like a free fall. We are at a level on the gold shares that would normally indicate a bottom and a buy. But I am going to continue to stay on the sidelines for now. I am going to let this week pass at the least. Oversold both short and medium term here. I'm being cautious and that's what happens with a lack of confidence. Mentally I'm feeling tired, did not sleep enough. 2 days to go for the March option cycle and I will not be making any trades this week. Perhaps we will have one more run higher before the week ends. That's a guess as usual. GE's strength could mean that the rally still has legs. I'm going to wait for the May calls to open up for the gold shares. I think that perhaps near the end of the month could be the time to try that trade again. So it's a watching and waiting game for now.