The Dow dropped 58 points today on good volume. Advance/declines were over 2 to 1 negative. It was the last day of the month which could be a reason for some of the selling. The summation index has rolled over and I am now looking to buy some puts on any type of rally this week. I think the momentum is over. We had bad breadth before yet continued higher. This time the market went to the downside as it should have. Nothing is set in stone though. Gold was up a couple bucks today however the XAU lost over 2 and a half points. It's possible that one of the buy signals will be triggered here soon but with the market getting weaker it isn't a sure thing. The dollar should bounce here soon also as I've said before. So gold at the moment isn't looking like a place to go long just yet. It is never easy. Mentally I'm feeling OK. I checked things out over the weekend and yes, the market is overbought. The big caps have been holding this thing up lately. The OEX did not drop as well in tandem with the SPX. I'm thinking that SPX puts might be the way to go this time. We'll see. GE remains strong and that is worrisome short term for the downside. Employment report on Friday. Was today a one day wonder or the beginning of something bigger? Right now I'm leaning towards the latter...