The Dow had its best day in years as the Fed cut rates more then expected. We were up 335 points on heavy volume. Advance/declines were 9 to 1 positive. We have broken out from the near term resistance. You really don't want to step in front of a freight train. My prognosis for buying puts just evaporated. That said, there's always a chance that I might get some on the follow through tomorrow morning. But there is no rush. Perhaps there is still something lurking out there for the Fed to cut more then anticipated. We'll see. Gold soared $10 after the announcement and the XAU rallied with it, up 6 1/2. All the gold shares were up on good volume. I did almost get some puts there today but did not. The technicals pointed to a drop in the gold shares here but they were wrong. In retrospect, it was a consolidation going on and we have broken out above resistance there as well. The dollar fell on the rate cut and that helped gold. There was no inflation in the produces prices and I expect the same tomorrow with the consumer prices. GE had a stellar day, up a buck fifty on heavy volume. It is very overbought here but staying there and continuing higher. The weaker dollar helps there as well. So it looks like up, up and away for the markets from here with new highs coming up. That is what nobody expected. So we'll see. Mentally I'm OK. Got a pretty good nights sleep. I have no imminent trades, perhaps a short tomorrow but I doubt it. Maybe October will be the way to go. Still, you can't deny todays action regardless of the seasonals. So we'll see...