The buyers put together a short covering rally today as a rumor floated during the last couple hours about a rescue plan for Greece. Clearly the nerves are frayed a bit with rumors starting to fly. The difficulty with my first impression today is that volume expanded into the lows today and even though it finished green, it's not a good sign when you leave volume at the lows.

What that means to me, and should mean to you, is that more pressure is likely to come still. Given that the market is pretty oversold here, a bounce into next week makes sense but it's probably just another opportunity to put some shorts back out once it begins to wane.

There's plenty of work to do over the weekend to determine the swing points on the short term (10-day) time frames so that we can have our orders ready come next week. We had a pretty good week this week as the volatility played into our two-sided trades. In particular our shorts and the gold stocks did well as we were able to add twice at the lows in gold over the last six trading days and the moves there are quite violent so if you hit them right, it's a beauty.

Folks, hope you had a good one and put a few pennies away today. Take 'em while they are handing them out cause it's tough sledding if you don't. Catch you next week.