We started the week off to the downside as the Dow lost 130 points on the current worries about Europe. Volume was light once again. The advance/declines were almost 4 to 1 negative. The summation index is pointing down, implying lower prices. I would expect a bounce again, since we are getting oversold once again. But we have been seeing lower highs and lower lows lately. That isn't bullish. GE lost 1/4 on light volume and broke to the downside from its consolidation. So I feel the signs are changing for the stock indices. Gold held up rather well with a gain of $6. The XAU fell 1 3/4. ABX, GG and NEM again had fractional gains and losses on light volume. The dollar had a good day today and gold rallied a bit as well. It does look like the flight to safety trade is making a comeback. I placed an open order again for the GG June calls. I'm not as sure about this trade as I was last week but we'll have to see what happens. I may also be late for this as there was plenty of volume in the GG calls today. But that's a guess as usual. Mentally I'm feeling OK, slept well. So where do we go from here? It's looking like lower prices although maybe not in a straight line down. The dollar rally won't help the stock indices to move up. Perhaps a defensive stance would be the best idea going forward. We'll see what happens with the GG trade attempt.