The market got clobbered today for no apparent reason.  The Dow lost 312 points on heavy volume.  The advance/declines were 8 to 1 negative.  The summation index is heading lower.  The small stocks are leading the rout.  Once again there is something going on underneath the scenes that I have no knowledge of.  How low we go is again something that I do not know.  My work says that there will be a decent rise tomorrow or Wednesday.  But from what level?  Oversold and staying there for the major stock indices.  My SPY October calls are now solidly in the red.  This is now a cut the loss trade.  The gain that I had here on Friday evaporated rather quickly.  Even with plenty of time for these options, I think getting out sooner rather than later is a good idea.  GE was off almost 2/3 on good volume.  It looks like I'll get a chance to purchase some November calls here.  But now do I want them?  Gold fell about $12 on the futures and the US dollar was a bit lower as well.  No flight to safety for gold.  Nothing seems to be able to rally the precious metals.  Perhaps todays market action was another margin call around the world.  That's a guess as usual.  The XAU fell 2 2/3, while GDX dropped 2/3.  Volume was good.  No trades here for now.  Mentally I'm feeling OK.  Confused as to what's going on here.  The RUT has now made lower lows and it appears that things could completely fall apart here.  The summation index has turned around and did not make it though the zero line when it was heading up.  The poor seasonal time frame doesn't help things either.  I do see some type of bounce higher in the next 2 days.  If that were not to happen, things would really turn ugly.  There is something happening out there that reminds me of the trouble back in 2008.  Perhaps we'll find out in the days to come just what kind of bad news surprise is out there.  Until then we have to stick with the technical indicators and they say that we are oversold.  The problem is when there is some unknown factor out there driving things, the technical don't matter.  We'll have to see how the foreign markets hold up overnight and brace for whatever happens tomorrow.