The Dow continues to fall as we lost another 21 points today. The advance/declines were about 3 to 1 negative and the volume was good. Very short term oversold now. Summation index heading lower. As much as I want to try the OEX puts I think a bounce is overdue. The technicals are blown out to the downside. I bought some OEX calls today in anticipation of the so called upcoming bounce. I could be wrong. This is a risky trade with only 7 days to go in the June option cycle. The options are about what I paid for them. I'll be out of this trade before the close on Friday. GE was flat on average volume. No trades there for now. Gold was down $5 today and the XAU fell 4 1/4. ABX and GG were both down a buck, while NEM fell 5/8. Volume was OK here. The dollar rose 1/3 today for no apparent reason. I also considered getting some June ABX calls today but decided to try the OEX instead. The Gold/XAU ratio buy signal hasn't been working here. There is also the potential head and shoulders top on the daily GG chart to consider as well. So it's the sidelines here for me in the gold shares. Mentally I'm feeling OK. Not exactly sure trying the OEX calls here was the right thing to do. The trend is down. However, sometimes the toughest things to do are the ones the ones that should be done. Technically the trade makes sense. It isn't a long term deal. That must be remembered. We'll see what happens tomorrow.