The Dow continued lower today with a vengeance as we lost 297 points on good volume. The advance/declines were around 7 to 1 negative. The troubles in Europe returned today and it looks like that story just won't die. I did not expect a big decline here and I was wrong. No telling exactly what may happen now. The markets are being held hostage by Greece. It sounds stupid but that is the story for now. Moving to oversold very quickly but there is still room to go lower if the market wants to. We have moved back down into the previous congestion zone. I suppose anything can happen at this point. GE opened gap down and lost 2/3 on increasing volume. Maybe I will get a chance for the January calls after all. However at this time, in this market environment, it would be better to let things shake out first. It is getting a little crazy. Gold sold off early and then made somewhat of a comeback. The futures were only off 5 bucks after being much lower. The US dollar had another huge up day in the flight to safety. The XAU was off 2 points and bounced around all day. ABX lost an 1/8, GG rose an 1/8 and NEM fell 1 1/4. These issues also bounced around after opening much lower. Volume was average. My ABX calls a started the day in the red but made a comeback and are back in the black for now. The volatility is enormous at the moment. That will keep the option premiums higher than usual. I'm holding on to the ABX calls for now but could exit at any time. Mentally I'm a bit tired, did not sleep well. We have the Fed tomorrow and the employment report on Friday and it seems like that doesn't even matter. It is a headline and event driven marketplace once again. It makes for tougher than usual trading. It also presents opportunities if you are astute enough to find them. The weekly ABX charts still look good to the upside to me but that could evaporate at any time. It is that type of situation that we find ourselves in. We'll see what happens in Europe overnight and go from there. It will be interesting.