The Dow got pounded today as we lost 245 points on average volume. Advance/declines were 4 to 1 negative. A pullback was expected but todays action begs the question that perhaps the rally is over. I'm not convinced until we see how the week ends. One day doesn't make a trend but it was pretty negative action. So we'll see. I think Friday could be key. Gold lost $25 and the dollar was weaker as well. Which could be a clue that this is one of those raise money affairs that we saw last autumn. The jury is still out. The XAU lost over 10 points. ABX and GG lost over 2 bucks and NEM shed over 4. NEM was the leader on the way up and now the reverse may be true. Volume was good. I do like getting long the gold shares down the road. GE fell 3/4 and that could be the end of that trade. The calls I own got killed today. Way under water but I will hold them until Friday. Volume light but that's the story of the new year so far. Mentally I'm doing OK, slept well enough. Just trying to sit tight here and let the market call the shots. Would like to see sideways action tomorrow followed by upside on Friday but that is wishful thinking. The GE trade is going into cut the loss mode. I'm not particularly concerned at this point. Maybe I should be. 7 days until January expiration.