At around 11 am pacific, I was all set to buy some july and august djx/spx calls into the close as the market collapsed 500 or 600 points. It was down 400 at that point, and I couldn't help but think of other major monday collapses (1987, 1998, 2000, etc). Then we got this questionable bounce off the sept 21st closing low from some buy programs, and now it looks questionable at best (NYSE advance/decline line not very inspiring after such a big rally). Who else was ready to buy this market if it had closed down 500+ points? I don't see how the DOW can escape the damage of the other averages and NOT close below the sept low.