We are are moving in what could be called a waterfall effect as the Dow dropped 242 points on heavy volume. Advance/declines were over 3 to 1 negative. Summation index heading lower with no end in sight as of yet. We are oversold as I said yesterday. There will be a bounce. The timing of which is the question. Perhaps we will just continue lower into the expiration. It's all just a guess in an event driven market that we find ourselves in. GE lost 2/3 on very heavy volume. This trade was a loser from the start. It happens. I'm not sure that even waiting for a bounce will help much here. It's a cut the loss mode for this trade now. Not a lot of money involved thankfully and it will be the first loser of the year. I probably should have just dumped it today. The time taken to monitor this trade is keeping me away from something else potentially profitable. Because there are opportunities out there now, make no mistake about that. Gold was up a few bucks today and the XAU lost 4 1/2. ABX down 7/8, GG off 2/3 and NEM fell 1 3/4. Volume here was good again. We are at a buy signal in the gold/XAU ratio. But we are still in the month of March. I do want to try some gold share calls but in this kind of market it's tough to call a bottom. Oversold on the gold shares here as well. I'd like to see some base building first. The dollar was up a bit today. Mentally I'm a bit tired, did not sleep well. The market is falling apart here and I own some GE calls. Obviously this isn't the right strategy. Mistakes will be made and this is one of them. I really need to get out of this trade and not compound the loss. GE is probably not going to come back in the next 4 weeks to make this trade profitable. I should be out tomorrow. We'll see.