The $vix spiked above 45 today. Higher than the previous high of 42.15 when the dow had the 1000 point drop.

The Down volume to Up volume on the NYSE as of 11:15am is 11-1. Markets are in panic mode and blood is in the streets. http://finance.yahoo.com/marketupdate/overview?u

Panics like this usually signal we are in a final washout and near a market bottom. Very slim chance of a market collapse but unlikely IMO but keep a close eye on the markets.

Also ZJG.TO (BMO Junior gold index ETF) is trading near its 14.90-15.20 support level. If it can bottom the next few days and start a new upleg, hopefully KXL will participate.