Well we managed a gain of 14 points today on the Dow. Volume picked up. Advance/declines were 2 to 1 negative. We were lower for most of the day and made a last hour comeback. The market is oversold here and due for some upside but I don't think it will be much. But I could be wrong. We did breach the 880 level on the S&P 500 but have already snapped all the way back. No OEX trades for now but I'd be cautious one way or the other. Gold got rocked today, down $20. The XAU lost 4 1/4. ABX lost 1 1/4, GG a buck and NEM almost 1 1/2. Volume picked up a bit to the downside. That's not a good sign for the bullish case. The $920 support level for gold broke down. We are getting oversold on the gold shares though and I would like to own some calls at some point. But I think I'll wait for now. Mentally I'm feeling pretty good. I actually took a day off today and got out of town. It was a nice break in the action. It is summertime. I'll have another day off in 2 weeks. Looking at todays action the market had every reason to head lower and it didn't. Perhaps because of the oversold condition but in the past if we were really going to head lower it wouldn't matter. So perhaps a near term rally is in the offing. As I said earlier though, I can't see it going very far. But it's all a guess. We'll see what happens tomorrow.