What a down day…especially INTC closing down -14% to $19.46 with disappointing earnings Also Asia market plunged down about -5%. I was really expecting a bigger bounce in the US market with the bad news from Citibank yesterday and the market was up. I missed getting into the SKF by $1 and could have gotten a $7 profit…augh!!!!

Anyway I dont like the markets right now so I’m closing positions in WFR, AGU, ABX and tight stops in my gold stocks like GSS, GFI, RGLD.

The market wants to test the August 16, 2007 lows which is the nearest high volume day. But the SPY has broken that and is testing the low on March 14. Currently volume today was not higher. We may see a bounce next week.

Again any signs of a bounce is a good time to short the market.