A lower end to quite a week as the Dow dropped another 140 points. Volume was very heavy for the second day in a row. Advance/declines were over 2 to 1 negative. We're in a tailspin here and the volatility is incredible. It is a rerun of the autumn of 2008 at the moment. Very oversold and I am counting on a short covering rally here to exit my OEX calls. This should occur in a day or 2. The McClellan oscillator is blown out to the downside. A bounce is inevitable. It probably won't turn the OEX trade profitable but it should cut the loss. The employment report today was a non event with all the market turmoil here. Gold was up $5 on the futures and another $10 in the aftermarket. The XAU fell 2 3/4. ABX off 7/8, GG down 1/2 and NEM lost over a buck. Volume was very heavy here as well. The gold shares haven't been following the metal here and that to me is a warning sign. The dollar was lower today but it didn't help the gold shares. Strangely enough there is a buy signal right now on the Gold/XAU ratio. Either the gold shares are going to rally strong from here or the price of gold is going to drop. Stay tuned. Mentally I'm feeling OK. Obviously I should have never entered the OEX call trade but who knew that the market was going to implode? It is still being blamed on some type of order mistake or computer glitch. That doesn't make things any better though. So I'll have to mitigate the loss and I'll do that on Monday or Tuesday. I've checked my records and whenever we get readings like the ones we have now on the McClellan oscillator, there is a one day snap back move to the upside. I'm counting on that and expect to see it at the beginning of next week. Right now it's Friday afternoon and time for a break in the action. I'll check the charts over the weekend and get ready for Monday.