The employment report was better than expected and the market took off to the upside from the opening bell.  The Dow gained 142 points on average volume.  The advance/declines were almost 3 to 1 positive.  New all time highs for some of the stock indices.  The summation index continues higher.  There is no overhead resistance for the Dow and the S&P 500.  I dumped my May OEX puts at the open for a 65% loss.  This trade was in trouble yesterday when we rallied instead of getting some downside follow through to Wednesdays declines.  Not to mention an over 100 point rally the day before the employment report.  The smart money telegraphed todays move.  In retrospect, Wednesday was the day to get long.  Overbought both short and medium term now but that can persist.  We'll have a closing Dow 15000 celebration next week.  GE was up 1/4 on average volume but well off of the highs for the day.  No good ideas there for me at the moment.  Gold lost a bit on the futures as did the US dollar.  Considering the strong employment report it could have been a lot worse for gold.  The XAU was up 1/2.  ABX, GG and NEM all had fractional gains on average volume.  My ABX October calls are still in the black.  I should be holding on to them for a while.  Mentally I'm feeling OK.  Chalk up another losing trade for me with the OEX put loss.  Not a lot of money involved but the mental capital is always more important.  You've got to keep moving ahead though.  2 weeks remaining on the May option cycle.  I might try another trade before expiration.  The June cycle has an extra week.  What looked like the beginning of an extended move lower for the stock indexes on Wednesday has completely turned around.  It now looks like a question of how high can we go?  Of course that could all change next week but I doubt it.  Gold was basically flat on the week but has recovered pretty good from the April crash.  I'd expect those lows to be tested again at some point.  The gold shares have at least stopped going down.  They remain oversold on a medium term basis.  There is a chance that I'll sell the October ABX calls and then try and buy them back again later.  I'll be checking the charts over the weekend to try and come up with the next trade before the May expiration.  It's a warm, springtime Friday afternoon.  Time for a rest.