Continuing higher with a vengeance as the Dow gained 148 points on average volume. Advance/declines were over 4 to 1 positive. Can we agree that the trend is up until further notice? Yes. It doesn't look like anything is in the way. Whatever the news, the market goes up. So stick with it. GE gained 2/3 on average volume. It doesn't look like I'll get a chance for the March calls there. This issue has had a great move since the end of November. Gold was up $5 and the XAU gained 6 1/3. ABX up 3/4, GG rose a buck and NEM led the way up 1 3/8. Volume was average. The gold shares have finally outperformed the metal itself. Perhaps the trend is going to change back to the upside here. The US dollar took another hit and was much lower. The economic data has been stronger, we have unrest in Egypt and rates in the US have moved higher. Yet the dollar continues to lose ground. The flight to safety trade is being unwound but it seems the fall in the dollar reflects more than that. Perhaps the economic recovery isn't as strong as being projected. Or maybe countries are diversifying out of the US dollar as the reserve currency. I can only guess. I canceled the open order for the February ABX calls. I'm hoping to try this trade again before expiration. Mentally I'm feeling OK. We're not overbought on the indices anymore, so there's room to move higher. Fridays action relieved the near term overbought condition. We'll see what tomorrow brings.