Again we could not hold a gain as the Dow lost 54 points on average volume. The advance/declines were well over 3 to 1 negative. Still short term oversold here and I would expect something to the upside very soon. But I certainly don't know how long that would last. The US debt problem is grabbing the headlines for now. I'm quite sure this will be settled soon and that we will see some type of rally when it does. This is the rally that I'd like to get short if it happens. Otherwise we're just going to head lower here and there won't be a chance to get some August OEX puts. We'll see what happens. GE was flat today on average volume. Nothing new to report there really. Gold was up $3 but the XAU fell 1 1/2. The US dollar was flat after selling off early. ABX, GG and NEM all had fractional losses on light volume. We're overbought on the gold shares but this just may be a pause in the uptrend. Earnings will be out in a couple of weeks. Might try the August calls there but it depends on the overall market itself. However, it was a valid breakout for gold as the volume confirmed it. That must be remembered. Mentally I'm doing OK, another dentist appointment this morning. In order to be successful you've got to pay attention. Only so many interruptions can be tolerated. Expiration Friday tomorrow so we'll have to keep an eye on that. The summation index is probably heading back down after today as well. Interesting times.