The rally continues as the Dow turned around from early losses and posted a gain of 135 points on OK volume. Advance/declines were 2 to 1 positive. Summation index to the upside as the McClellan oscillator continues higher as well. So are all the sellers gone for now? It appears that way. I still think we'll retest the lows at some point. Overbought and staying that way for now. Gold got clobbered as the dollar rallied and oil fell. The dollar did the exact opposite of what I had expected. Gold lost $15 and the XAU dropped 7 points. ABX, GG and NEM were all lower on good volume. ABX and NEM held up rather well only off 1/2. GG got killed on good volume, down over 2 1/2. I had an overnight order in for GG calls and it was filled. It is already at a 50% loss. That was a mistake. There is no more relative strength in GG. It is now the weakest of the group. Earnings in a week and I don't think I'll wait around for that. There is still a decent buy signal on the gold shares but it isn't working this time. I don't know why. GE was up 80 cents on good volume. I suppose I should have been looking at the calls there but hindsight is always correct. Mentally I'm feeling fine, slept good. Sometimes you are just flat out wrong and it costs you. That's what's happening with this GG trade. There was a reason the volume was weak to the upside yesterday and it lagged. I should have waited for a better set-up. Not to mention there is so much time left in the August cycle that there was no reason to be in a hurry. So the best course of action should be to cut the loss and move on. Hopefully I can manage that.