The Dow took a hit today, down 280 points. Volume was light again as buyers took a day off. Advance/declines were 7 to 1 negative. Volatility increased and we went through the 200 day moving average line on the OEX. So perhaps we are going to retest the lows of mid-August after all. That was the scenario for the OEX put trade. Those are back in the black as now the question remains when to sell them. What is interesting is that even with todays action the technicals have barely rolled over. That could lead to quite a decline. But I don't think that's going to happen. I could be wrong. Perhaps everyone is just getting out to book the losses in August. That's a guess. I'll ponder these things this evening. Gold was down around 3 bucks and the XAU lost over 3 points. ABX lost over a buck on increased volume. There was a rumor of ABX buying NEM. So NEM was up big at one point on heavy volume. It did end higher but the rumor was squashed. I might get the ABX calls tomorrow if we get some follow through. I'm thinking that we will but the weekly chart is now bearish for ABX. Decisions will have to be made. GE lost almost a dollar on average volume. The calls I'm looking at aren't cheap enough for me yet. Mentally I didn't sleep all that well. Also todays action makes things a bit more puzzling. But I will check things out tonight and come up with some type of game plan for tomorrow. Not sure what that will be but I would expect at least some downside early. But you never know...