A one day reversal to the upside as we opened down over 150 points and closed up 165 on the Dow. Volume was heavy again as it has been a very busy week. Advance/declines were negative though, which has me not believing in this move. Short covering ahead of tomorrow is my guess. Volatility is king. I may try the OEX puts but it won't be until next week if at all. Gold continues its free fall, down $17 and continuing lower in the aftermarket. ABX, GG and NEM all gave back what they gained yesterday and the volume remains heavy. This has been a straight down market. At some point there will be a snap back rally and that is where I will dump the GG calls for a loss. Or perhaps there won't be. The Gold/XAU ratio has been blown out and I can't ever remember it staying like this for so long. I guess there is no reason gold couldn't just keep dropping because there hasn't been any support for quite a while. It is overdone to the downside most likely because of the tremendous dollar rally. We've come back to 80 there and that is where multi-year resistance is. I doubt it goes much higher from here. GE was up a touch on very heavy volume after being down over a buck early. Mentally I'm doing OK but could have slept better. Stuck in a losing trade and that is never a good thing. Almost expiration week and we'll see where the bias is. Inflation data and retail sales tomorrow so we'll see what happens.