We saw selling from the start today as the market had a gap lower at the open. The Dow lost 518 points on good volume. The advance/declines were better than 4 to 1 negative. The summation index is now tracking sideways. Earnings were missed will be listed as the cause for todays sell off. But the major indices had gotten back to the now in charge resistance levels and pulled back. The NASDAQ lost over 500 points and the S&P 500 over 100. So the down trend lines are in charge there for now. We'll get jobs data out tomorrow and that should be another market mover. Gold was off a few bucks today. The US dollar continues to fall and interest rates were up a bit. The XAU fell 2 1/8, while GDX dropped over 1/3. Volume was light. I did place an order for the GDX February calls but it wasn't filled. I adjusted it and am leaving it out overnight. GDX has slightly risen from its oversold condition and followed the market down today. I'm not exactly sure this trade will work but I'm willing to give it a shot with 2 weeks left in the February option cycle. Mentally I'm feeling OK. The VIX was up today but the short term indicators have barely moved up. The 50 day moving average proved to be resistance for the VIX to move lower. Volatility remains the rule when the VIX is over 20. If the VIX continues higher here we will see quite another drop in stocks. My thinking is that perhaps the VIX will move sideways here along with the indicators before we really see the next leg down for stocks. I could be wrong and the market goes where it wants. I also see that the futures have risen after the close today so perhaps a company has come out with better than expected earnings after the bell. Asia was mixed and Europe lower overnight. We'll close out the week tomorrow with all eyes and ears on the jobs report.