Did I say yesterday that I was leaning towards the bullish side? Shows what I know. The down trend continues with the Dow losing 211 points on heavy volume. Advance/declines were about 3 to 1 negative. Oversold and staying there. At this rate it doesn't look like the August lows will hold for the major averages. The Russell 2000 index has already broken through. Have we started a new bear market. I don't know. Time will tell on that. Gold gained around $7 but the XAU lost 2 3/4, following the overall market. ABX and NEM each lost about 1/2 on average volume. No trades there for now as I am not sure which way to go there. I was leaning towards the puts but we are already oversold. I still might get some before the Fed meeting next month but that is a long way away at this point. GE lost 90 cents on heavy volume. Who knew we would get to $37 so fast? I bought some calls there. We are at the weekly up trend line. If we break down here then all bets are off as this is the logical spot to hold. If GE doesn't hold up here it would be ominous for the overall market as well. Do I expect GE to rally here? Maybe but I at least expect it to hold up or move sideways. We'll see. Mentally I'm OK, did not sleep all that well. I'm looking forward to the long weekend that starts now. Friday will most likely be a lightly traded day and it ends 2 hours early. The market is really acting horrible here. Rallies are a thing of the past it seems. However we can't stay oversold forever, can we?