Continuing the snap back today as the Dow gained 150 points on average volume.  The advance/declines were 3 to 1 positive.  Trying to hold in here for the stock averages and they just might do it.  Getting back to the zero line on the McClellan oscillator.  We failed to get through on the first attempt and we really need to make it this time.  This is not to be confused with the zero line on the summation index.  A drop through the summation zero line would lead to an unraveling of stock prices that would be severe.  I think we may hold off on that for now but that's a guess as usual.  The price action at the moment would help lead to the return to the recent broken trend line.  That would set us up for the OEX put trade next week or so.  Patience is required at the moment.  GE fell off of its opening highs for the day and managed a gain of 1/8.  Volume was lighter.  I'll still consider the July calls but not right now.  The earnings report for GE arrives on expiration Friday in July.  That is a fact to remember as well.  Gold continues its free fall.  The precious metal futures dropped $45 to levels not seen for a few years.  The US dollar was a bit higher today.  The XAU was off 4 7/8.  For gold and the gold shares, it's a blood bath.  ABX down 1 1/3, GG off 1 1/8, while NEM fell 1 3/4.  Volume was very heavy once again.  We ask how low can these stocks go and the answer is always lower than you think.  I'm still going to try the ABX October calls again at some point.  Maybe tomorrow, maybe next week.  Mentally I'm feeling OK.  A couple of plus days for the stock indices but I'm still not convinced that the decline is over.  We have broken up trend lines and now some declining tops in place.  If we make it back to the declining tops line, I'm going to purchase some OEX puts.  Especially if the volume is light on the way up.  There's still a chance to collapse here but with the upside in the past 2 days, that threat has less potential.  But the market will go where it wants.  Gold is about as blown out to the downside as you'll ever see it.  The time to buy is when there is blood in the streets according to one famous investor.  Call me crazy but I'll be getting some ABX calls here at some point.  2 days left in the month and first half of the year.  The Shanghai index held up yesterday and I'd still keep an eye on that near term.  We'll see what happens tomorrow.