The Dow lost 5 points today on very heavy volume. Advance/declines were positive. If we hold up here for another day I am thinking of getting some puts on the OEX. Not completely sold on this idea but it could be the play. I haven't gotten a complete short term sell signal but one could take shape. Or perhaps I'm just antsy after missing out on gold. It rose over $10 today and the XAU went up over 5 points. The ABX calls took off and I am feeling terrible. I suppose those after the bell NEM trades make sense now. Some big player got good prices and cleaned up on the calls. I did place an order for NEM calls today but then canceled it. However I did leave in an order overnight in case we get a pullback in the morning. The dollar continued to fall today and I think that will continue. We are oversold on the dollar and it is in freefall. Gold is way overbought and staying there. I have seen this before. This is a move that I will chase. ABX really is acting stronger but the calls are way overpriced. My hope is that NEM will catch up. But that could all change as we move forward in time. I am also thinking about getting short the market here as the high volume today with no price movement tells me that the buyers might be done as the group in control here. It would also set us up for a nice rise at the beginning of next year. At any rate the OEX is a tough trade so I will wait and see how the market sets up for that. Mentally I'm feeling down for not putting on any gold trade but I need to move on and maintain focus. It may not be too late here but we'll see. Perhaps moving to a higher strike price and going to January will have to be the move. The monthlies in gold are bullish and the weeklies are only halfway to overbought. I'll think it over tonight and take it from there. I'd expect another pause here for gold soon but who knows.