The Dow staged an explosive rally today as it gained 198 points on average volume. The advance/declines were 5 to 1 positive. I don't know where it came from but I'm sure some short covering was involved. I got stopped out of the OEX put trade for another 40% loss. This trade looked great yesterday but that all changed today. The summation index has turned back to the upside today. The weekly charts don't look bearish anymore. I'm not sure where the next trade is for me with regards to the OEX. Gold was up only a couple of bucks, which wasn't much considering the US dollar got clobbered again. The XAU gained 2/3. ABX was off 1/3, GG was flat and NEM dropped about 1/2. Volume was light. The gold shares and gold itself are very overbought. They have been for a while. Perhaps I'll try a trade there but I certainly don't have a good idea. Mentally I'm feeling OK. Well it looks like my overall strategy of a drop in the market in the autumn didn't work. Unfortunately none of my ideas this year have worked that well, if at all. It's been a memorable year to forget so far. So where do we go from here? It looks like the rally that started in the beginning of September has legs. Unless we get a complete market reversal, the trend is up. There's 3 weeks to go on the October options. I don't see any trades for me at the moment but I'll check the charts over the weekend. It's the first weekend of fall. Time for a break.