This is my spin on some very interesting posts by VIX and More today. While the summer is typically retracemet time before ramping up for the fall bull run, several techical indicators suggest we may not get the long anticpated downdraft in the foreseeable future. Next stop Dow 14,000???? Maybe, but I think the markets will exhibit modest retracement and some stagnation before liftoff. For net premium sellers like myelf these are encouraging studies that suggest I can squeeze more out of slightly ATM positions rather than ITM positions, which is the hedged strategy I normally play.