The much anticipated Fed announcement has come and gone. The Dow gained 26 points on good volume. Advance/declines were positive. The market was lower for much of the day, then sold off on the announcement. We then rallied all the way back to close near the highs of the day. We are still short and medium term overbought. I did purchase some OEX puts and they are already in the red. At least I adjusted the price down. I do expect some weakness here soon but I've been wrong before. Perhaps the employment report on Friday will be the catalyst. Gold lost $20 on the futures but gained ground in the aftermarket on the Fed easing. ABX fell 1/3, GG dropped 3/8 and NEM lost 3/4. All had good volume. These issues were also lower earlier in the day. The dollar dropped a bit on the Fed but not as much as traders expected in my opinion. Perhaps a weak jobs report will push the dollar lower and gold higher. We'll see. No gold share trades for now, we have moved back to overbought here as well. Mentally I'm a bit tired, did not sleep well or long enough last night. So I'm in the OEX trade and it already has the feel that perhaps we will just continue to grind higher and this has the potential to be yet another loser. However time will tell. Speaking of time, I don't think that I will be holding on to this position that long. The Fed did nothing that wasn't already expected. After a brief sell-off, the indices resumed their climb. I'll wait for Fridays employment numbers and go from there.