We started the week off with a whimper as the Dow lost 94 points on light volume. The advance/declines were over 4 to 1 negative. Summation index heading lower, implying that the trend is down. We are oversold here and I do expect a bounce. The fact that we made up half of todays losses makes me think that we should head back to the upside tomorrow. But who knows? I'm still looking to purchase some OEX puts if we get some positive action in the stock indices. GE was down 1/8 on light volume. Still below the 200 day moving average there. Gold continues to be the star as it set another record high today with a gain of $12 and more in the aftermarket. The US dollar was slightly higher but was up more earlier in the session. The XAU rose 2 1/2. ABX, GG and NEM all gained at least 3/4 on average volume. I'd look for the calls here as well if we get a pullback. Earnings out next week. Mentally I'm feeling OK. I suppose I'll wait for a relief rally when the US settles its debt ceiling issues within the next 2 weeks. That's the idea for now.