We opened lower and stayed there for the session as the Dow fell 70 points on average volume.  The advance/declines were 2 to 1 negative.  The summation index is heading lower.  There wasn't a chance to get any July OEX puts this morning as it was a down hard open.  But you are getting the idea.  My guess is that things are in the process of change.  Remember the weak start to the year and the implications of that.  Be looking for entry points for OEX puts now.  Expiration week coming up and I'll look for August and September puts going out from here.  GE was off 1/8 and the volume was average.  It looks like GE was once again a sign of things to come.  Pay attention to GE, it will help your trading of the stock indexes.  The gold futures rose $15 on the day, most likely due to the increased tension from the Gaza strip and the report of a troubled bank in Portugal.  These issues didn't help the stock market either.  The US dollar was slightly higher today.  The XAU however lost 2 points as the gold shares had a classic reversal.  They opened the day higher and closed lower.  ABX and GG lost 1/3, while NEM was off a few cents.  Volume was good here and these stocks are overdue for some weakness.  I'm still looking at the October calls for the gold shares as a possible trade in the future.  Mentally I'm feeling OK.  Tomorrow will be an important session in my mind.  If stocks hang in here, then more time will be taken to build a significant top in my opinion.  If we simply continue lower, then it is possible that a decent top has been put in.  The short term technicals have rolled over for the stock indices.  So we'll see what happens.  No summer doldrums for now.  The gold shares had what looks like a major one day reversal today.  Perhaps this will give us a set up to purchase the October calls.  But there isn't any rush to do anything after todays price action.  The only thing that would change that is if we have a huge up move tomorrow for these stocks.  I don't see that happening but you never know.  Yesterday the foreign markets did not follow the Dow higher.  We'll see what transpires tonight.