Another bounce today as the Dow gained 683 points on average volume. The advance/declines were 4 to 1 positive. The summation index is still heading lower. The NASDAQ led the way today and that's a positive but the volume was less than it has been recently. The S&P 500 was up 120 points and the short term indicators here have turned back up. I'm not thinking that the market is just going to continue to rally here but who knows? Yesterdays price action was pretty negative and todays is very positive. Probably some short covering in there today. I'm not sure where it goes from here. On the sidelines with regards to the SPY options for now. Gold soared out of nowhere as the futures gained thirty bucks. It did come off of the highs for the session. The US dollar finished about unchanged and interest rates ticked up. The XAU rose 3 points, while GDX was up almost 7/8. Volume was light here as there still isn't much interest in the gold shares at the moment. My GDX August calls are still in the red but did make up some ground. Perhaps should have just taken the loss today but hope springs eternal. Another day like today would bring tham back but that's asking an awful lot of this market. Mentally I'm feeling OK. The VIX was lower today which fits the good day for stocks. The short term indicators are moving back down and are not yet completely oversold. So perhaps we can squeeze another positive day out of the market. I do not expect the volatility to just disappear though. Asia and Europe were generally lower to mixed in last nights trade. We'll close out the week tomorrow.