It was another wild one on Wall Street as we ended down 33 points on some of the heaviest volume in a while. Advance/declines were slightly negative. We were down over 200 at one point and rallied back in the final hour, even getting positive for a few minutes. We are right at the 200 day moving average for the S&P and it held for now. I would expect some type of rally from here after todays action. There is also a chance that this is going to be the low for a while but time will tell on that. Gold was up $4 today and the XAU almost gained a point. But gold too was all over the place as volatility cranked up. Both ABX and NEM were barely unchanged on heavy volume but they were all over the place during the trading day. I did want to get some ABX puts but did not put in the overnight order. The markets are moving fast right now so the trading is compressed. You've got to take your profits quickly. GE lost a little ground on heavy volume. It too came all the way back from being down much lower. If and when it forms a bottom I will be getting the calls there. Boeing was lower and I was lucky to get out yesterday. Mentally I'm feeling OK, got a good nights sleep. Option expiration next week with some inflation data. I think we'll bounce tomorrow after todays comeback. We should. However what happens after that will be the key. We need to hold todays lows going forward. I still would like to get short ahead of the inflation data but everything is subject to change. I thought that maybe gold was done here today but it came back. Trade data tomorrow and it should be positive for the US. I would think that the dollar would rally but it hasn't regardless of the data lately. So we'll see. Once again there is nothing wrong with preserving capital for later on. There is also nothing gained by sitting on the sidelines. The dilemmas never end...