February trading began to the upside as the Dow gained 83 points on average volume. The advance/declines were 5 to 1 positive. The rally from the October lows continues. The over the counter stocks continue to lead the way and that is bullish going forward. Summation index continues higher. We worked off some of the overbought conditions in the past week or so and now we are moving higher. Nothing seems to be in the way of higher prices. GE had a fractional gain after being higher earlier. Volume was average. I'm still looking for a decent move one way or the other in the near future. My thinking here is still for the GE March calls. Gold was up around $9 on the futures today. The US dollar took another drop today but the move in gold itself was muted. The XAU was off 1/4. ABX was flat, GG fell 3/4 and NEM dropped 1/3. Volume was light. Overbought on the gold shares and I canceled the open order for the ABX February calls. I once again noticed some extreme volume in the ABX February 50 calls. The last time that happened about a week ago the open interest expanded as well. We'll see tomorrow if that is again the case. Mentally I'm feeling tired, did not sleep enough. The stock indexes remain overbought and rallying. That has been and still is the case. You cannot fight that. I'm not sure what my next trade will be. I was leaning towards the gold share calls but we have yet to see a pullback in gold itself. I will have to consider exactly what to do later tonight. Perhaps I'll wait for the markets reaction to the employment report and go from there. A little more than 2 weeks left for the February option cycle. Tomorrow should be a holding pattern awaiting Friday.