Selling resumed today as the Dow fell 784 points on heavy volume. The advance/declines were 3 to 1 negative. The summation index is moving lower. The Dow by far led the way lower today and that's not the worst scenario. The S&P 500 once again traded below the 6800 level only to make it back and close above it. The short term indicators for the S&P are hanging around the mid-range level. It appears as though the S&P wants to put in some kind of a bottom here as it keeps coming back to close above 6800. But it is a volatile, event driven environment we find ourselves in. Things still could go either way for the S&P. We don't have any plans for the SPY March options right now but that could change. Premiums remain high but there is plenty of time left in the March option cycle. Gold dropped $45 on the futures. The US dollar was higher along with interest rates. The XAU fell 17 3/4, while GDX lost 4 1/8. Volume was good. The short term indicators for GDX are back to pointing down and are not yet oversold. GDX did manage to come back and close above the up trend line at 101. It also bounced off of its 50 day moving average. Regardless, we are still bearish on gold and the gold shares here. Hoping for some kind of light volume levitation in the coming days to purchase the GDX March puts again. My open order for them remains out there. Mentally I'm feeling OK. The VIX was up today which fits a down market. The short term indicators on the VIX are moving back up. Still above the 20 level which says volatility will remain. The jobs report is out tomorrow and unless it has some big surprise I doubt it will make much difference given the current market conditions. Tougher than usual trading but there are opportunities for those that can find them. Asia higher and Europe lower overnight. We'll close out the volatile week tomorrow.