Well it wasn't a multi-hundred point loss but we were on our way as the Dow fell 156 points on heavy volume.  The advance/declines were 6 to 1 negative.  Oversold, staying there and beginning to unravel.  Summation index heading lower.  We are way overdue for a bounce but at this stage that's probably all it would be.  Perhaps if it wasn't for expiration week we would be even lower.  We're in a technically precarious position and caution is advised.  I don't know what the root cause is but the market is speaking and we must pay attention.  I'm on the sidelines for now.  GE was off 1/8 on good volume.  Looks like GE is not a proxy for the market here.  I'm still back to considering the July calls.  But no trades for now.  Gold finally bounced as the futures gained $38, even with the US dollar moving higher.  The XAU rose 5 1/3.  ABX up 2 1/8, GG higher by 2 and NEM gained 1 3/4.  Volume was good.  I'm looking at the June calls here on the bounce.  But I'm in no hurry after the last ABX call trade debacle.  However if the technicals cooperate I may try a trade here within the next couple of weeks.  Mentally I'm feeling OK.  Anything could happen tomorrow since we closed on the lows for the day.  We are getting the Facebook IPO on Friday and that may help stabilize things for a day.  Option expiration as well.  Interesting times but we really only care about making money from trading.  The problem is that it is really tough in times like these.  Opportunities are out there but I'm currently at a loss to discover them.  I don't have a decent handle on what's going on with the markets at the moment.  I only know that being careful here is probably the most prudent course of action.  Gold and the gold shares should have bounced weeks ago and they finally did today.  Will the same thing happen to the stock indexes?  Stay tuned.