The Dow tried to bounce today but it failed and we lost 59 points on the day. The advance/declines were negative and the volume average. Getting to short term oversold but not there yet. The idea here is to buy some August OEX puts on a bounce if we get a sustained one. Volatility remains above normal for the summer. No big news today but the fact that we couldn't hold the gains of earlier today is not a positive. GE lost about 1/4 on average volume. Just broke through the 200 day moving average to the downside. We never got near the resistance for GE and maybe that was telling for the action we're seeing now. That's a guess as usual. Gold continues to shine here and is breaking out to new highs. It gained $13 and more in the aftermarket. The XAU rose 5 1/2. The dollar was higher today as well. ABX up 1 1/8, GG climbed 2 1/8 and NEM was up a buck. Volume was good. I had a thought early in the day to buy some gold share calls but didn't do it. It looked like they were going to rally and they did. I just didn't take the risk. This looks like a valid breakout for gold and I may just want to jump on board. It will be something to think about tonight. Mentally I'm doing OK. I'm still sticking to my theme of getting some OEX puts for August but I will need to see some upside first. 5 weeks for the August options so they are are bit pricey here. Money is coming back into gold and the gold share earnings are due at the end of the month. Short term overbought here though. Plenty to ponder. I'll check the charts tonight and go from there.