The Dow got clobbered today, off 248 points. Volume picked up today and the advance/declines were 8 to 1 negative. We are oversold and staying there. Volume increased on the downside move. The summation index is turning down. However, I did buy some OEX calls. Why? We will have a decent up move within the next 2 days. I believe that based on the technicals and my own work. Perhaps my timing could have been better but I think this will be a good trade. I could be wrong and often am. Gold lost about $10 and the XAU fell 5 1/2 points. ABX and GG both lost more than a buck. NEM was off 1/2. Volume was average. I'd like to get some of the gold shares but will hold off for now. Perhaps in the February cycle. GE lost another 80 cents on good volume. Nothing doing there. In fact I should probably not even list it in the blog anymore if I don't plan on trading it again. Mentally I'm tired as it has been a long trading day. I'll need a good nights rest tonight in order to have a clear mind for the task at hand tomorrow. This OEX trade is extremely time sensitive with only a couple of days to go. It won't be easy. But I do think we will bounce here and pretty good at that. So we'll see what happens.