The market got clobbered today, with the Dow down 105. Volume was good and the advance/declines were 3 to 1 negative. A decline was expected here, now we just have to see how deep it is. My guess is we won't go down that much. But what do I know? My March GE calls finally got filled. It took all session as they were partially filled for most of the day. That usually means the market makers did not want to give them up. I am going to put in an order for some more at a lower price. GE was down today. I sold the Intel calls for a 70% profit. Perhaps could have held them but I took the money and hope to get them back. The open interest expanded from the time I bought these. That is supposed to be bullish but my studies on this factor are inconclusive. I will repurchase some calls when Intel gets to the uptrendline, perhaps later this week. Gold was down a couple bucks and the XAU continued lower. ABX and NEM were down. The dollar was weak so we have some disconnect here. I don't know what to make of it but I'm staying away as some trend lines have been violated. Too bad I didn't get some puts when I saw the gold price, gold share divergence. It's always easy to look back. Pfizer didn't do much today and that could be a positive when we were down so much. I'll keep an eye on it. The Summation Index has rolled over to the downside so I would expect more weakness but not a lot. I'm still sticking with the theory of a good year for 2005. This could be the opportunity to get your calls for early next year. We'll see...