Some downside today as the Dow fell 119 points on better volume but still on the light side.  The advance/declines were not even 2 to 1 negative.  The decent price move projected by the McClellan oscillator occurred today.  I don't think this is the beginning of anything significant to the downside.  This wasn't exactly a broad move lower by the major averages.  We'll be sure to keep an eye on developments but a huge move lower isn't expected by me at the moment.  The negative RSI divergences are in place though and I could be wrong.  GE was off a dime and the volume was light.  Gold was up a couple bucks on the futures as the US dollar finished the day just up a touch.  The XAU fell 2 7/8 as near term profit taking kicked in.  ABX and NEM fell 1/2, while GG shed 2/3.  Volume here was nothing special.  Yes, we want weakness to get long the gold share calls.  But how much weakness?  I am still going to be patient here.  A 50% retracement of the recent gains would be ideal but the market rarely cooperates with what you want.  The gold shares were very short term overbought.  Todays price action helps relieve some of that condition.  Mentally I'm feeling OK.  No up trend lines are in danger of being violated with todays downside.  We would have to see a few days like today to break the uptrend.  I don't see that happening but who knows?  The gold shares took a much needed rest today.  I am still going to try and wait until after the July 4th holiday to enter a position in the October gold share calls.  But we will have to see how the prices move.  As I said before, I expect things to slow down as we enter the summertime period.  That is not the ideal environment for option trading.  We'll see if we get downside follow through overseas tonight and see what tomorrow brings.