Quite a snap back rally as Europe cut a bail out deal over the weekend. The Dow rose 404 points on heavy volume. Advance/declines were almost 10 to 1 positive. We were deeply oversold on the McClellan oscillator, so todays action was not a surprise. Where we go from here is the question. The OEX was up 20 points and my calls are still losing money. Bad timing there. I'm looking for some follow through to the upside tomorrow morning and then I really have to get out. There's a slight chance that I will hold them until Wednesday. But this obviously was an ill advised trade. Gold sold off hard early but came back to be down around $9. The XAU was up almost 5 points. ABX rose a point, GG up 3/4 and NEM tacked on 2 points. Volume was good. There remains interest in the gold shares. Perhaps that will be the next trade for the May cycle. The dollar sold off today as well but then came back. The gold share charts have worked off their overbought condition. There could be more room on the upside there. When I'm done with this OEX trade, I'll be looking there next. Mentally I'm a bit tired, could have slept better. So we got the bounce and it was a good one. I expected my OEX calls to make it back into the black but it didn't happen. This is a trade that I need to get out of due to the volatility in the markets at the moment. Perhaps tomorrow but Wednesday at the latest. Anything above break even would be considered a success.