Down, up, down, up, down as you get the picture of todays action. The Dow lost another 189 points on good volume. Advance/declines were 3 to 1 negative. I still feel an oversold rally is imminent. Tomorrow? Friday? Yes I do think that is in the cards. The Fed cut rates today and so did some other countries around the globe. That won't unfreeze the credit markets but at least it shows that they're trying. These are some interesting times indeed. If I had any guts I'd buy some OEX calls on weakness tomorrow. Gold was up another $25 today and the XAU finally got into the act, up almost 18. ABX, GG and NEM all gained around 5 bucks and the volume was extremely heavy. Half the GG calls are back in the black. We are seeing 15% to 20% moves in stocks for just one day. It is insane. Only 7 days left for the October option cycle. However todays action in the gold shares, with the accompanying volume, says there is more room to go on the upside. I really need to be careful. GE was up 1/2 on good volume and the earnings are out on Friday. That is going to be market moving. Which way is the question. Mentally I'm slow and still not physically up to par. The wrong time for an illness, that's for sure. Some type of cold or flu but the markets don't care. I'll fight through it as best I can. Looking at some individual stocks that I'd like to hold for a few years but they too could be cheaper in '09 or '10. We'll see what tomorrow brings.