Well, so much for the beginning of the month being strong. The Dow lost 142 points today on light volume. Advance/declines were over 2 to 1 negative. I will say this. It doesn't feel as though this is the beginning of something big. When markets go down they usually don't move sideways for most of the day as they did today. The employment report on Friday will be interesting. The summation index is still pointing higher. If we were positive today there would have been a signal to buy the puts. So we'll see what happens. Gold didn't do much today but the volume was good. The XAU lost about a point and a quarter. ABX was basically unchanged. I'd still like to get some ABX calls at some point. But it's probably too late. GE lost a third on average volume. I'm going to wait there. There is no rush for the options that I'm looking at. Mentally I'm feeling OK. I do not have a good feel for the events unfolding it seems but I do believe we have seen the lows. If at some point they get retested, that will be the point to buy calls. My guess at this point is that we won't do much tomorrow and we will see what happens on Friday. Light volume is never a good sign for the bullish scenario. But the market sometimes will do what the majority least expects. I have no problem stepping aside at the moment. As soon as I see something worth taking the risk I'll give it a try.