The Dow lost 77 points today on light volume. Advance/declines were 2 to 1 negative. We sold off early, came all the way back and then fell again. The summation index should be rolling over today but that doesn't mean we are going to collapse. My OEX puts are now slightly in the black. We'll be oversold by Monday so I will have to think about exactly what to do here. No news to speak of really. So perhaps the technicals are going to work here. Gold was up $4 on the futures, however the dollar gained some ground today. The XAU lost 1 1/2. ABX and GG fell 1/2, while NEM lost a buck. Volume was average. I still may try the gold share calls here again but they are very overbought. So we'll see. However if the market drops, the gold shares will go with them. Mentally I'm feeling OK, slept well. So perhaps the OEX put trade will work but it's still early. Tomorrow will tell a lot. The weekly charts for the indices now are looking bearish. That, combined with a declining summation index could make the put trade profitable. Time will tell.