The Dow continued lower by 42 points today on average volume. The advance/declines were slightly negative. The overall market held up better than the Dow. We're short term oversold here but that doesn't mean that we can't go lower. We were down twice as much near the middle of the session, came back and rolled over again. The employment report is due out tomorrow and we'll have to see what the reaction to those numbers are. I don't really have a good handle on what's going on here. I'd like to maybe try the OEX puts before expiration. I'll need to see some type of upside first though. GE was flat on light volume. No trades there for now. Gold was off $10 and the XAU fell 1 3/8. The gold shares were lower early. The US dollar dropped again today. ABX down a buck, GG lost 2/3 and NEM fell 1/2. Volume was average. I am thinking of getting some calls for ABX or GG. However the technicals are not completely oversold. There is also a possibility that GG is forming a head and shoulders top on a daily basis. I could be wrong. What is true is that Gold itself has held up quite well lately. The Gold/XAU ratio remains on a buy signal. The weekly candlestick charts for the gold shares now look bearish though. A lot will depend on tomorrows action I suppose. Mentally I'm feeling OK, could have slept better. I would like to make some type of trade here but I'm not exactly sure what. I don't want to do anything stupid. But you never know. I'm getting the feeling here that I want to make a trade just to make a trade, if you know what I mean. That's a recipe for disaster. I think the trend has now turned to the downside for the indices. The bearish belt hold candlestick pattern shouldn't be ignored. We'll see what the employment report brings.