Lower from the start today but the Dow only lost 48 points on heavy volume. The advance/declines were 3 to 1 negative. The summation index is moving sideways. The inflation data came in a bit hotter than expected and most averages had a gap lower on the open. Both the NASDAQ and S&P 500 got clobbered. The NASDAQ was down over 500 points and the S&P lost over 1%. Stocks made a slight comeback in the final hour. The short term indicators on the S&P have turned down with room to go. More economic data due tomorrow including producer prices on inflation. I would expect some follow through selling but you never know. Gold took a hit as well with the futures off $53. The US dollar was higher and interest rates were flat to a bit lower. The XAU lost 16 1/2, while GDX shed around 3 3/4. Volume was good to the downside. The gold shares did come up off of their lows. The short term indicators for GDX are heading down and are getting to completely oversold. I adjusted my order for the GDX November calls to a closer in the money strike price. Still not filled yet and may have to adjust it again tomorrow. I'm feeling pretty sure that getting the calls here is the right idea despite my recent loss attempting this. We'll see. Mentally I'm feeling OK. The VIX was up today as you would expect. The short term indicators here have shot higher and some are almost already overbought. Perhaps the VIX is implying that the decline will not last too long. Time will tell. Asia lower and Europe slightly higher overnight. I'll keep an eye on tonights headlines.