The Fed to the rescue. Worldwide markets had plunged on Monday while the US was closed. The Dow was down over 450 points in the first half hour and that was after the Fed cut rates 3/4. The Fed action was enough to stop the wholesale selling and the Dow lost 128 points on the day. The volume was huge. It had to be to hold things up here. Advance/declines were negative. We are still oversold and I think a better bounce will come. Perhaps tomorrow or the next day. These are unprecedented times, that's for sure. And who knows? Today had the action of a blow-off bottom to it. Time will tell. On to gold. It was down over $20 at the open and closed up $9. I had an order in for ABX calls that wasn't filled. Money came back into gold as the dollar fell on the rate cut from the Fed. ABX was up over 2 3/4 on very heavy volume. NEM only managed a 1/4 point gain on heavy volume. HL was down a 1/4 on good volume and made a comeback from its lows. There remains a buy signal for gold here. I'll have to re-check the charts tonight but they will be sure to show some type of reversal. I had an order in for some GE calls and that wasn't filled either. GE was off about 20 cents on extremely heavy volume. I might actually try a trade here with GE since it is so blown out to the downside both short and medium term. We'll see. Mentally I'm pretty much spent. I am in a seminar this week and not in my usual routine. I'm tired form the early hours and hassles of traffic. I am able to place orders in the morning but my focus on the markets is limited. I am taking this into consideration when placing my trades. As always I am trying not to do anything stupid. My thinking is that we will see a nice up day this week. However the volatility has increased the premium in the option prices. That has to be taken into consideration. I will check the charts tonight and go from there. There is nothing wrong with letting things play themselves out here. Preservation of capital is a theme to remember. However, there is opportunity at the moment also. You don't make any money sitting on your hands. This is the dilemma at the moment.