The Dow got clobbered today as it fell 265 points on heavy volume. The advance/declines were over 4 to 1 negative. Summation index gapping down. Very oversold and staying there. That's dangerous. Possible crash coming or we are in the middle of it. Debt deal is done and the markets don't care. I never did get a chance to get some OEX puts. I think it's too late now unless we see a 3 to 4 day rally. No hint of that coming. Everyone now fears the employment report on Friday. Might be a chance to go the other way but I wouldn't be betting on it. GE was down 3/4 on good volume. Support has been broken. GE led the way down and it is something to keep am eye on for when we eventually head back up. Gold had a great day, up $22 on the futures and almost that much again in the aftermarket. The XAU gained 1 1/4 in a really down market. ABX, GG and NEM all had fractional gains on OK volume. The dollar was a bit higher today. The Gold/XAU ratio is solidly on a buy and getting stronger. I think that I'm going to try the gold share calls again. That will have to be my back up plan after missing the OEX puts. We should probably see some downside follow through in the stock indices tomorrow and perhaps that will take the gold shares along for the ride. I'm looking at ABX again. We'll see. Mentally I'm a bit frustrated on the OEX puts. I don't think that I'll get another chance for them. I've got to forget about that and move on. However we could be on the brink of some type of market meltdown. Opportunities will present themselves if that happens. 8 days to the downside for the Dow. Should have seen some type of sustained bounce but haven't. Gold is soaring but the gold shares lag. This summer has been anything but quiet. I'm going to mull things over tonight and decide what to do in the morning.