We started the week off with a bang to the upside as the Dow gained 196 points on average volume. Advance/declines were 4 to 1 positive. Are we on our way to new recovery highs? Could be. There is a chance that we have just seen a consolidation here and are going to test the 200 day moving average lines for the S&P. It's possible. We'll know pretty soon I think. Regardless, I put in an overnight order for some OEX puts. I'm sticking with a down scenario for the June option cycle until proven otherwise. I could be wrong and the market will let me know I'm sure. Gold lost $5 and the XAU was flat. GG and NEM gained a touch while ABX lost a buck. Volume was average. Is ABX telling us something here? Who knows? It did lead on the way up here after NEM. The dollar was slightly higher today and is very oversold on a daily basis. The trend is up for the gold shares though and they sold off hard early before coming back strong. I may try the June calls if we get some weakness that is more than temporary. Mentally I'm feeling OK after a nice long weekend. Plenty of questions here as todays action probably brought the summation index back to the upside. I'll need to check the numbers tonight. I'm still leaning towards the bearish side but if we break the recent highs on strong volume I will have to review my strategy. Let's see if we get some follow through tomorrow.