The market tried to rally today as we were up over 80 points during the day. However we sold off in the last couple of hours and ended the day with a loss of 19 points on the Dow. The advance/declines were positive and volume was light. If today was the bounce that we get then the market is in bigger trouble than I think. Oversold on the short term still. Summation index heading lower. I'd still like the OEX puts if we get a 3 day or so rally for the bounce. But like I said, if today was it then we're in trouble. So we'll see. GE was flat on average volume. No trade in mind there. Gold lost $3 and the XAU fell 2/3. ABX, GG and NEM all had fractional losses on light volume. The dollar was lower today and it didn't help gold. Getting oversold on the gold shares but not all the way there yet. The daily chart on GG still looks like a head and shoulders top. But it's still a dilemma with the price of gold so high. And so it goes. Mentally I'm feeling better. 8 days to go in the June option cycle. I still would like to try a trade here if the conditions set up properly. The trend is down and by now it's obvious. A nice snap back to the upside here would help to put on the OEX put trade. However there's a chance we may just continue lower in a hurry. Tomorrow will be very telling in my opinion. I'll be hoping we get some upside but the market will go where it wants.