A weak attempt at a bounce and then the Dow lost 96 points to close out the month of June. Volume was average and the advance/declines were negative. Summation index heading lower, oversold and staying there. This is a dangerous market right now. We are possibly going to go through the zero line on the summation index. We haven't even had a short covering rally. I think that you can by puts on a bounce when we get one. But what do I know? Gold was up $3 today and the XAU was flat. ABX, GG and NEM all had fractional gains on light to average volume. The gold shares are showing good relative strength. Almost at a buy signal for the Gold/XAU ratio. I placed an order for some July ABX calls in case we have a big drop in the markets in the next couple of days. However getting long anything is very risky in this market at the moment. So we'll see what happens. The dollar was a bit lower today as the flight to quality trade took a day off. Mentally I'm feeling somewhat tired, did not feel well last night. I closed out the first half of the year on a down note and that was the story generally for 2010 so far. Plenty of time left in the year to turn things around. All eyes are waiting for the employment report on Friday. Perhaps we'll get a short covering rally in the next couple of days. If we don't, it could get very ugly and fast.