DID NOT TAKE LONG

Did not take long for the SPY to fall off the table. Right down to the Second level of Daily support and the first level of Weekly support at the 128.8 area. I am not very confident that these levels will hold today as the action of the market internals is very weak (-2,400) and the only sector I see to the green side are the metals.

My plan 0f action is to start scaling in to the ETF'S as they are now at the buy levels for both the 2 day RSI signal and the 10% above the VIX stretch test. However, I expect to see the 128.5 area and that is where I expect to use most of my ammunition.

Everyone's favorite gold stock, KRY, is now down about 15% from yesterday's high and gold has barely budged. Hey Jimmy; Where does this "stock" trade if gold tanks all the way down to $575 an ounce?