The Dow made an impressive comeback in the last hour to finish up 51 points on extremely heavy volume. Advance/declines look like they are slightly negative though. The volatility is strange for a holiday week. It is usually pretty quiet. There is something going on but I don't know what. Technically we are due for a bounce and I mean more then just todays action. We are still oversold. Gold had a stellar day up $13 and is rallying in the after-market. The XAU rose 7 1/2 points. ABX and NEM were both up big on heavy volume. So is that it for the gold correction? I did think that we were in the process of unwinding the gold trade. If that's the case there is a lot more downside there to go. So perhaps we are just snapping back to the broken up trend line. I'm still thinking about some puts when we get there. I'll have to check the charts. GE lost a bit on average volume. It came back in the last hour along with the overall market. I am looking to the calls there but I'm trying to wait until it reaches $37. We'll see. Mentally, I got a decent nights sleep. I'm trying to figure out what is going on here. It looks like perhaps we will hold the August lows. The market is trying to. If it doesn't we will be going much lower. Considering we are very oversold and heading into a favorable positive money flow period, I am now leaning towards the bullish case here. But I could be wrong. At times we are acting as though it is a bear market. I think we are at a point of inflection that will make the case one way or the other from here. Stay tuned...