Hi Poet, It is indeed Ugly! It looks like Total capitulation here. I sold my Puts Way too early today. I could have made around another 30% here. I am picking up some Feb 98 Calls to try and play a bounce from here. Now I am not so sure that will happen though. Someone must be anticipating a bad reaction to the State of the Union tonight. Their has not been enough bad news to justify the reaction the markets are having.