Another day and another downer for the Dow as it lost 357 points on insane volume once again.  The advance/declines were 3 to 1 negative.  The summation index is heading down.  The McClellan oscillator is just about as low as it ever goes, now in the -400 range.  A bounce is coming and it may have begun today.  The NASDAQ actually finished with a fractional gain if you can believe that.  Very oversold for stocks any way you look at it and it has been that way for a few days now.  I may be buying any weakness on Monday morning.  Just a bounce mind you.  There's no new rally in the making with all the China virus uncertainty.  GE was actually up 3/4 on very heavy volume.  That could be the canary in the coal mine for the bulls here.  Or a fake out, we'll know in due time.  But I'm believing the former since this decline has had a panic and now plenty of margin call selling.  Gold got clobbered today, the futures were off over sixty bucks.  The US dollar was lower as well.  The XAU shed 5 2/3, while GDX lost almost 2 points.  Volume was huge here again.  My GDX March calls remain under water but I expect a rally in the beginning of next week so perhaps I can get out at break even or better.  In fact I did try to purchase some more GDX March calls at a closer to the money strike price but my order wasn't filled.  Mentally I'm feeling OK.  The VIX almost touched the 50 level today.  That alone tells you that we are in rare territory.  It also strengthens my view that the decline is now due to take a breather.  That doesn't necessarily mean that it's over but it does mean that a snap back rally is about to take place.  Option premiums are very expensive though.  However if we get a chance on Monday morning to purchase some SPY calls, I think that will be the proper short term move.  Of course we have to get through the weekend headlines whatever they may be.  Just be clear on this, extremely oversold, a panic move lower yesterday and today the market didn't completely collapse again.  The volume was off the charts today so somebody was stepping in to break the fall.  That's my view of things going on in the market at the moment.  Plenty and I mean plenty to ponder over the weekend.  Opportunity is out there in my mind.  Europe and Asia got crushed in overnight trading to end the week.  We'll have to see how they do before the US market opens on Monday morning.  Interesting times.  It's Friday afternoon and time for a break.

Panic on Wall Street as the Dow dropped 1191 points on extremely heavy volume.  The advance/declines were 9 to 1 negative.  The summation index is cascading lower.  The China virus fear has reached a feverous pitch.  The S&P 500 has reached the 3000 level and breached it.  This is the logical spot to try some SPY March calls.  However there is nothing logical about what we are witnessing today.  I did place an open order for some SPY March calls but canceled it.  We are at oversold extremes right now.  However this week is acting like the week following the opening after 9/11.  So we've probably got further down to go.  I'm sure that the bounce will be incredible as well.  I just don't know from what level it will start.  I still might take a shot at it though.  GE fell over 1/2 and the volume remains extremely heavy there.  Gold was up only a buck again and finished off of its highs for the day.  The US dollar was lower.  The gold shares got clocked, with the XAU down 7 1/2 and GDX losing 1 3/4.  Volume was extremely heavy here as well.  Everything is being sold regardless of worth at the moment as I'm sure there are plenty of margin calls that must be met.  I did change my open order for the GDX March calls to a lower strike price and it did get filled in todays bloodbath.  Yes it is showing a loss but at least there's three weeks to go here and perhaps the gold shares will snap back as well.  However the daily chart now looks ugly and we're not even oversold on a short term basis yet.  Mentally I'm feeling OK.  The VIX soared to over 39 today so we are in not familiar territory on this indicator.  It will not stay this high for long but who knows in this pandemic fear.  It really is impossible now to try and call the bottom bounce point.  The market has already gone into an irrational place.  What if the China virus doesn't have a big effect on the US?  If that's the case then we'll be seeing some 1000 point up days I can assure you.  But we don't know exactly what's going to happen and the market always fears the unknown.  To me it has already been blown out of downside proportion but that's just my guess on things.  On a technical basis we're way oversold and staying that way, hence the waterfall decline.  I should probably not try and be a hero and just stay on the sidelines until things settle themselves out.  You won't make any money that way.  But you won't lose any either.  I'll continue to think it over tonight.  I'll hang on to the GDX call trade for now.  Europe and Asia were lower last night and I'll assume that they'll get crushed again tonight.  We'll close out the week and the month tomorrow.

The market took a rest today compared with the beginning of this week.  The Dow fell 123 points and the volume continues to be very heavy.  The advance/declines were almost 2 to 1 negative.  The summation index is moving lower.  Still no break from the China virus fears as its effects are yet to be fully known.  It is spreading but hasn't really had an impact in the US.  If that does occur then we'll be heading even lower.  The NASDAQ had a slight gain today so maybe there's some near term hope for the bulls.  I'm still waiting for a snap back to try the SPY puts or a run down to 3000 on the S&P 500 to try the SPY calls.  Short term oversold now any way you look at it.  There is plenty of time in the March option cycle since it just began.  GE lost another 1/3 and the volume remains heavy here.  Gold only rose a buck or so today and finished well off of the highs.  The US dollar was slightly higher.  The XAU and GDX had slight fractional losses on good volume.  I do still have an open order for the GDX March calls out there.  However the weekly charts for the gold shares and gold would look pretty negative if we were to close where we are today.  Bearish cloud candlestick patterns would be in place.  So I may have to rethink this idea tonight.  Mentally I'm feeling OK.  The VIX is quite overbought and is pointing towards some kind of short term rally here soon.  Either that or we're going to get to 3000 on the S&P sooner rather than later.  I've got an idea of what to do here so I'll simply have to see what the market says and go from there.  Of course we're now at an extreme level of headline risk but that cannot be avoided at the moment.  So we'll watch and wait for now.  Asia was lower and Europe mixed overnight.  We'll see how things go tomorrow.

The market runs on fear and greed.  Fear is certainly in control now as the Dow collapsed another 879 points on even heavier volume than yesterday.  The advance/declines were almost 10 to 1 negative.  The summation index is roaring lower.  It is a panic attack caused by the China virus.  Seems nobody has a good handle on what is going on with that.  We are now short term oversold but just like being overbought in rallies doesn't mean much neither does being oversold in declines.  My view is that there's solid support for the S&P 500 at the 3000 level.  At this rate we'll be there tomorrow.  I'm still a believer in getting short on a snap back when it occurs.  Might have to wait a while for that but who knows?  GE lost 1/2 and the volume was heavy again.  Gold lost $27 today on the futures and the US dollar was down as well.  Profit taking perhaps?  Margin calls needing to be met?  Well we were way overbought for gold and the gold shares so something had to give.  The XAU fell 4 points and GDX shed over a point.  Volume was pretty heavy once again.  I did place an overnight order for the GDX March calls.  It wasn't filled and I may have to re-evaluate this idea tonight.  Yes, I'd like to do it but no I don't know if it will work.  The volatility in all markets has picked up considerably and that makes the option premiums soar.  Money is to be made but you've really got to nimble and a little lucky.  Mentally I'm feeling OK.  The VIX made it to 30 today and that is the highest reading since the end of 2018.  We may not be at the point for the decline to end but we are certainly getting there.  The market is in panic mode with the Dow off almost 2000 points in just 2 days.  Who knows, maybe if we get to 3000 on the S&P tomorrow I'll try the SPY March calls.  That is the next idea that I have unless we start to rally tomorrow.  The drop has been incredibly quick and even when the futures rally overnight, by the time the market opens traders are ready to sell.  It is almost like what we saw in the markets after 9/11.  At any rate at some point we'll see a move back to the broken trend line and that will be the chance to try the March puts in my view.  Until then it is perhaps just best to wait it out.  Most of Asia was lower and Europe got crushed again too.  We'll keep an eye on tonight headlines and see what we can do tomorrow.

The game changed today as the Dow crashed 1032 points on extremely heavy volume.  The advance/declines were 9 to 1 negative.  The summation index is heading lower.  Fear of the China virus overtook all other factors today.  Why it took so long is just one question.  The longer term up trend line for the S&P 500 at 3250 was broken.  Where we close this week will tell a  lot about where we are going.  A close below 3250 on the S&P 500 would imply that 3000 is the stopping point.  We should go lower from here though because the short term technical indicators haven't gotten oversold yet.  The NASDAQ got killed as well but it is still above the uptrend line that began in December of 2018.  We had huge gaps lower to start the day and it looks like a full fledged decline has begun.  10% lower would take us to 3053 on the S&P.  My next trading idea here is to wait for the snap back that will appear out of nowhere and then try the SPY March puts.  That is what usually happens in these instances.  There will be a huge rally for a day or so and then the decline continues and takes out the previous low.  So I'll wait for that and if it doesn't occur I'll think of something else.  GE lost over 1/3 on heavy volume.  Gold continued to shine as the futures gained $16.  It did close far below the high for the session though.  The US dollar finished little changed.  The XAU and GDX had fractional gains on very heavy volume.  Short term overbought now for the gold shares but the break out here is for real in my opinion.  My strategy here is to wait for a pull back as one should materialize when the stock market stabilizes.  At that point I'll try the GDX March calls since I believe that we'll make another run to the highs set today.  Can we just continue higher from here for the gold shares?  Yes, but I do think a pause is the next logical assumption.  We'll see.  Mentally I'm feeling OK.  The VIX went ballistic today and closed above the 25 level.  We're already short term overbought here.  Yes it could go higher tomorrow but I would expect a reversal at some point this week.  Make no mistake here though, rallies are not going to last as fear is the overriding concern for now.  As more negative news comes out about the China virus it will simply feed on itself.  Although the ideal time to own the SPY puts has come and gone, there will still be opportunities to make money on the downside in my humble opinion.  But you'll have to pay attention and be up for the game.  Europe and Asia were lower to the extreme as well as panic seemed to take a hold of the worldwide stock markets today.  We'll see what tomorrow brings.

Virus fears prevailed again as the Dow lost 227 points on good volume.  The advance/declines were 2 to 1 negative.  This should move the summation index lower.  The overall market was weaker than the Dow and that should be noted.  The short term technical indicators have rolled over and this has the feel of more than just a brief decline.  This could be the beginning of a more protracted move lower.  I may be looking at buying some SPY March puts early next week.  GE was off 1/4 and the volume was light.  Getting short term oversold here.  Gold continues to shine and the futures rose $25.  It has been quite a week for the precious metal.  The US dollar dropped today.  The XAU added 3 1/8 while GDX climbed 7/8.  Volume was heavy.  I still may chase this move if we see some weakness early next week because it has been a high volume breakout for sure.  You can also be sure that the decline from this rise will be just as swift when it happens.  Traders pile in and they pile out of this trading vehicle.  In retrospect I should have just jumped on board after my open order on Tuesday wasn't filled.  Mentally I'm feeling OK.  The VIX jumped today and made it to the 18 level.  There's still room for the short term indicators to move higher there.  The NASDAQ is now leading the way down and that's bearish.  Since the decline is news driven, it will trade on any reports coming out about the virus be it negative or positive.  So it won't be an easy market to trade.  But as you can see from the activity during this week, there are opportunities to take advantage of.  I'll have to go over things again this weekend and decide what to do next week.  It won't be easy since my confidence isn't where it needs to be.  That said, I could remain on the sidelines if I'm not up to the task.  I'll see what stands out to me over the weekend and take it from there.  Europe and Asia were lower overnight but it isn't a bloodbath just yet.  It's Friday afternoon and time for a break. 

The day started out quiet but around an hour or so after the open things fell apart.  The Dow was off almost 400 points during the session but closed off 128 on good volume.  The advance/declines were positive.  Hard to figure that.  The summation index is still moving sideways.  The McClellan oscillator gave a signal last night for a big move within the next two sessions and today qualifies for that.  China virus fear was the reason given for the decline but like all the other recent drops, buyers stepped in.  The short term technical picture for the S&P 500 remains overbought.  GE was down almost a dime on lighter volume.  Gold continues higher as the futures added another $9.  The US dollar continued higher as well.  The gold shares finished little changed on better than average volume.  They are most likely due for a rest.  I did cancel my open order for the GDX March calls.  We're overbought on the gold shares on a short term basis but I may try this idea again next week if we see some near term weakness.  Any good news on the China virus will probably cause gold to tumble.  Mentally I'm feeling OK.  The VIX had a pretty good spike early on but finished well off of its beat level.  The short term technical indicators here have turned up but it's still oversold.  It did close back above the 200 day moving average though.  Option expiration Friday tomorrow so we'll have to see how that plays into things.  I will probably remain on the sidelines before the weekend.  It looks like we are in a headline driven environment again for the time being.  The US dollar is finding money flow into it but the usual haven of the Japanese yen is not happening this time around.  Gold and the yen usually move in tandem so I don't know how much longer the gold rally can last.  The stock market is overdue for some type of sustained downside but as long as any selling is met with buyers we won't see any decline that will last.  The trend remains up until proven otherwise.  Asia was generally higher with Europe down in last nights trading action.  We'll close out the shortened trading week tomorrow.  

Back to the upside for the Dow as it gained 115 points on average volume.  The advance/declines were slightly positive.  The summation index is moving sideways.  New all time highs for the NASDAQ and the S&P 500.  As long as the over the counter market is leading the way, the trend will be up.  No matter the news, good or bad, the market continues to go higher.  You cannot fight that.  We are also in a seasonally strong period for stocks until sometime in April.  I guess we'll just have to see how high things go.  Short term overbought and staying that was for stocks.  GE was off 1/8 and the volume picked up to the downside.  Gold added another nine bucks on the futures and the US dollar was higher as well.  The XAU rose 1 3/4, while GDX gained 1/2.  Volume was good.  I am leaving in an open order for the GDX March calls but it won't be filled unless we see some decline in the gold shares.  However the train has already left the station with regards to the gold shares here.  Simply another missed opportunity.  Mentally I'm feeling OK.  The VIX remains oversold and the rally in stocks lives on.  There's no overhead resistance for stocks as I have already pointed out before.  I guess we can just sit back and enjoy the ride.  If and when the market starts to react negatively to some bad news, then we'll know that the tone has changed.  Hasn't happened yet.  Options expiration is on Friday and I don't see any change in the trend over the next couple of days.  I'm looking for something to trade going forward but haven't come up with anything as of yet.  It's probably too late for the GDX March call trade.  March is also usually the weakest month of the year for gold as well.  We'll see how it goes this time around.  Europe and Asia were higher in last nights trade.  We'll see how things go tomorrow.

A lower start to options expiration week as the Dow fell 165 points on good volume.  The advance/declines were negative.  The summation index continues to move sideways.  AAPL announced last night that it would miss its 1st quarter results due to the China virus.  This had markets sinking overnight but the US held up rather well considering.  The NASDAQ sold off but ended up with a slight gain by the close today.  The S&P was down but it wasn't as bad as it could have been.  the market is showing amazing strength despite the negative news.  I cannot explain it but it is worth paying attention to.  If you got short this morning it appears that you will get squeezed once again.  The major stock indices do remain short term overbought.  GE was off a few cents on average volume.  The technical indicators here have rolled over.  Gold took off to the upside as the futures gained twenty bucks.  The US dollar was up too in a flight to safety.  When I saw gold rising last night, I put in an order for the March GDX calls.  It wasn't filled.  The gold shares rallied as well.  The XAU was up almost four points, while GDX added 7/8.  Volume was heavy.  The gold shares are breaking out so I have placed another order for the GDX March calls at a higher strike price.  I do think that this is a move worth chasing.  I should have perhaps simply bought the calls today at the market but I didn't.  Maybe my lack of confidence played a role in my actions today.  I do think that the gold shares have just shown us which way the breakout will occur.  Mentally I'm feeling OK.  The VIX had a gap up at the open and has plenty of room to go higher.  Whether or not it does is the question.  We are still short term oversold there despite todays drop.  When the market is being hit with bad news form AAPL combined with more China virus fears and it holds up the way it did today tells me that it is most likely going to go higher in the near term.  It may just be options expiration related but it must be taken into consideration.  We'll see how the foreign markets digest todays US market action and go from there.  There still seems to be plenty of money that wants to gravitate to stocks in the US.  Europe and Asia were lower overnight.  We'll keep an eye on this evenings headlines.   

A mixed bag before a long weekend as the Dow lost 25 points on average volume.  The advance/declines were slightly positive.  The overall market was stronger than the Dow.  The summation index is basically moving sideways.  The market bounced around all day and then moved higher in the half hour or so.  The China virus is still in the news but the market isn't worried.  The technical picture for the S&P 500 remains short term overbought.  I don't exactly have a good handle on things here.  My best guess is that we'll just grind higher from here.  GE was off 1/8 on lighter volume.  Gold continued higher, the futures rose almost ten bucks.  The US dollar was slightly higher.  The gold shares are not keeping up though.  The XAU shed 1 1/8, while GDX lost a cent.  Volume was very light.  It certainly isn't bullish when gold rises and the gold shares don't follow along.  They are still hugging their 50 day moving average.  I'll be patient here for now.  Mentally I'm feeling OK.  The VIX continues lower and remains oversold.  It is forecasting higher equity prices going forward.  That along with the usual positive option expiration week bias has me thinking we'll be seeing new all time highs for the major averages again next week.  I'm not sure if it's worth trying some short term SPY calls but it may be.  I'll remain on the sidelines most likely as the loss this week has sapped my confidence for now.  The TRAN and IWM were both lower today but I'm not sure if that means anything or not.  I'll be taking a much needed break for the next 3 days.  Yes, I'll be checking the charts but I will also relax as well.  Europe and Asia were mixed to close out the week.  That seemed to be the theme around the world today.  It's Friday afternoon and time for a break.

It was a back and forth session as the Dow lost 128 points on average volume.  The advance/declines were just about even.  The summation index is moving sideways.  The market was lower early but as has been the case buyers showed up and we rallied most of the day.  Some late selling put us negative on the day.  We are still short term overbought and overdue for some type of decline.  Might have to wait until after expiration for a drop.  Or if recent history prevails, the market will simply grind higher.  Just a week left in the February option cycle.  I'll try not to do anything stupid.  No guarantees.  GE lost 1/4 on average volume.  Gold was up $5 on the futures and the US dollar was slightly higher.  The XAU added a point, while GDX was up almost 1/4.  Volume was pretty light.  Waiting to see which way things go here as the XAU Bollinger bands imply.  Mentally I'm feeling OK.  The VIX is getting oversold now.  It can stay that way in up trends.  More noise form the China virus today but the effect was short lived for now.  I now get the feeling that we'll see 3400 on the S&P 500 and 30000 on the Dow in short order.  Sellers are met with buyers before the selling even gets started these days.  I guess I'll be on the sidelines until I can get things figured out again.  Europe and Asia were slightly lower last night.  We'll close out the trading week tomorrow ahead of a long weekend.

Another day another gain as the Dow climbed 274 points on good volume.  The advance/declines were positive.  The summation index is now barely moving higher.  The overall market wasn't as strong as the Dow but the gains were spread around.  New all time highs for many of the stock indexes.  I sold the SPY February puts for an 80% loss.  Unacceptable.  I did have a chance to break even when I canceled the stop loss order but I simply held on waiting for a decline that never appeared.  Don't cancel your stop loss orders when you've already placed them.  It's on to the next trade but I think that the sidelines will be the place for me now after this latest trading debacle.  GE was up 1/3 and the volume was good.  Gold was little changed as the US dollar was up again.  The XAU and GDX had fractional losses on light volume.  Both the XAU and GDX are trying to hang on to their 50 day moving averages.  I am still looking at the April calls for GDX.  mentally I'm feeling OK.  The VIX finally broke down through its 200 day moving average which signals higher prices yet to come.  Whatever ideas that I had for a market decline were wrong.  The usually reliable sell signal that I received did not have the magnitude that it has had in the past.  I also was trying the puts after the fact.  The decline, brief as it was, had already taken place.  My stubborn attitude when placing the next couple of trades was not the right move.  It now appears that we'll get the usual run up in the indices leading into the February option expiration.  For me I'll try and fight myself to not take on another trade here and wait for the next signal.  I still think that the contracting Bollinger bands for the XAU mean something but I will try and not guess which way things will go.  The S&P 500 remains short term overbought but in rallies it can stay that way longer than you think.  With no overhead resistance and new all time highs a daily occurrence, owning calls seems to be the only way to go.  Europe and Asia were higher as the worldwide push into stocks is in full force.  We'll keep an eye on the overnight developments. 

A day of running in place today as the Dow dropped half a point on good volume.  The advance/declines were 2 to 1 positive.  The summation index is trying to turn back up.  The overall market was stronger than the Dow.  Nothing new on the headline front.  The short term technical indicators for the S&P 500 remain overbought.  I am still holding on to the SPY February puts and they continue to show a loss.  This trade is running out of time and only a sharp substantial drop will do me any good.  I suppose that I'll wait and see how it goes tomorrow.  GE lost a few cents on average volume.  Gold fell six bucks and the US dollar was slightly lower.  The XAU and GDX were both little changed on very light volume.  The Bollinger bands for the XAU have contracted to the point of forecasting a big move coming there soon.  Perhaps the GDX call trade should be put on again.  For now I'm on the sidelines there.  Mentally I'm feeling OK.  The VIX continues to hover around its 200 day moving average.  This condition won't last forever.  The break one way or the other will tell a lot about the markets near term direction.  You can't really argue with the new all time highs that we're setting in some of the major averages though.  With the over the counter market leading the way here, the case for higher prices going forward is not out of the question.  The Fed spoke today and will finish tomorrow.  What was said today had no effect on the market.  The China virus doesn't seem to be a concern and trade tensions have disappeared for now.  As long a breadth remains positive the path of least resistance is higher.  Europe and Asia were up in last nights trade.  We'll see what tomorrow brings.    

The Dow started off the week with a gain of 174 points on average volume.  It was a one day reversal to the upside as we started lower and closed higher.  The advance/declines were positive.  The summation index is moving sideways.  The overall market was stronger than the Dow.  The market was looking at good gains for the day and then shot higher in the final half hour.  My SPY February puts are now big losers.  The stop loss order should not have been canceled.  Unless we get some kind of sharp turnaround lower, this trade will be another mismanaged loser.  We've got the Fed speaking on Wednesday but that will most likely be pretty dovish with the effects of the China virus not completely known as of yet.  New all time highs for some of the major stock indices as well.  It appears we've had all of the pause that we're going to get near term.  With only eight days to go in the February option cycle, it's conceivable that things will continue to run up into expiration.  GE was up a few cents but the volume was light.  Gold added another five bucks and the US dollar was higher again as well.  The XAU rose 1 1/2, while GDX gained 1/2.  Volume was light.  Mentally I'm feeling OK.  The VIX is right at its 200 day moving average.  Another day like today will send us through.  With plenty of stock indexes hitting new all time highs and now resistance above us it's easy to make the case for higher prices.  I should probably just take the loss I have and move on.  Perhaps I'll wait for the Fed.  Either way it's a rough start to the trading year for me.  Asia was lower and Europe mixed overnight.  We'll keep an eye on the overnight headlines.

Some selling to end the week as the Dow fell 277 points on good volume.  The advance/declines were negative.  The summation index was trying to turn back up but is now slightly moving lower.  The jobs report was better than expected but the market was down from the open.  We bounced around with a lower bias the rest of the session.  Fear from the China virus is starting to creep back into the market.  I'm still holding my SPY February puts and they are still showing a loss.  They are now back above my stop loss price and that's a plus.  I still see some more downside for Monday but after that it isn't as clear.  We are still short term overbought on the indicators for the S&P, even with todays drop.  The overall market did fare better than the Dow today.  GE was off 1/8 and the volume was good.  Gold rose almost five bucks on the futures and the US dollar was up yet again.  The XAU was down 2, while GDX shed 1/2.  Volume was light.  Dropping gold share prices with a rise in gold isn't bullish.  Mentally I'm feeling just slightly tired, almost done with the flu hopefully.  The VIX closed back above its 200 day moving average.  The short term technical indicators here are trying to turn back up.  If that occurs we'll see some more downside next week.  However I must admit that the NASDAQ is really holding up rather well here and we won't get a substantial decline unless the over the counter market begins to falter.  We will also have to see the summation index start to drop again for a decline to gather steam.  There is a potential negative RSI divergence for the S&P 500 on the daily chart.  I am thinking that we'll head lower on Monday according to my work but anything can happen over the weekend.  The powerful up move that we saw this week after the previous decline cannot be counted out.  So there will be plenty to ponder when going over the charts this weekend.  Europe and Asia were lower to close out the week.  It's Friday afternoon and time for a break.  

Another day, another gain as the Dow rose 89 points on good volume.  The advance/declines were slightly negative though.  The summation index has stopped going down and is trying to turn up.  Getting short term overbought now for the major averages.  I canceled my stop loss order for the SPY February puts that I own.  That goes against the rules but sometimes you have to know when to break them.  That trade is still showing a loss but I am fairly certain that we'll see some downside in the next couple of sessions.  At least that is what my work it pointing towards although it hasn't been correct lately.  We'll get the jobs report tomorrow and that may get things going in either direction.  GE was up a few cents and the volume was good.  Gold was up $10 on the futures and the US dollar was higher again as well.  The XAU was up 1 1/4, while GDX rose 1/3.  Volume was light.  I am now looking at the GDX April calls as my next trade with the gold shares.  Perhaps this time I'll take the profits if I have them unlike the last attempt.  Mentally I'm still not 100% with the lingering effects of the flu.  The VIX did manage to barely close below its 200 day moving average today.  The short term technical indicators remain mid-range there.  Just two weeks left in the February option cycle as there is a holiday on the 17th.  We've managed to get back to new all time highs for some of the major stock indices.  We'll see if it's the beginning of a new leg up or if a rest is now needed.  Europe and Asia climbed overnight as money has moved back into stocks around the globe.  We'll close out the trading week tomorrow.

The Dow continued its climb and added 483 points today on heavy volume.  The advance/declines were 3 to 1 positive.  This will move the summation index sideways as it tries to turn around.  The S&P 500 closed at a new all time high.  My SPY February puts were stopped out for a 33% loss.  I then tried this idea once again at a higher strike price but it appears this was a wrong move as well.  It should get stopped out for another loss tomorrow morning.  The market is simply moving higher regardless of the news.  The small decline that we received last week looks to be done.  Unless there is some kind of negative turnaround overnight, the usually reliable signal that I received for lower prices has failed.  The short term technical indicators for the S&P have more room to move up and it appears that they will.  Perhaps my under the weather condition is affecting my brain but there are no excuses.  Stepping aside was an option that I did not take.  The overall market was not as strong as the Dow today.  GE was up 1/4 on average volume.  Gold was up around $5 on the futures and the US dollar was higher as well.  The XAU was up 1/2, while GDX was unchanged.  Volume was about average.  The gold shares are now in the oversold zone but the US dollar has broken out above its down trend line.  I'm still in the bullish camp for the gold shares linger term.  Mentally I'm feeling tired as I am not up to speed just yet.  The VIX is at the moment of truth as it has closed right at the 200 day moving average.  The short term technical indicators for the VIX are mid-range, so it could go either way.  I must admit though with the powerful move up that we've seen since the beginning of the week, the odds favor a move lower for the VIX with higher equity prices the result.  I will simply have to take my losses and move on.  Most likely to the sidelines until I'm feeling better.  Asia and Europe were higher in last nights trade.  It looks like all signs point to higher prices with the China virus not a concern anymore and the US impeachment will be in the rear view mirror.  We'll see what tomorrow brings. 

The Dow soared 407 points today on heavy volume.  The advance/declines were over 2 to 1 positive.  The summation index is barely moving lower now and trying to turn around.  Could the decline be over?  It very well may be.  The NASDAQ hit a new all time high today as the leadership is coming from the small stock indexes with the exception of the Russell 2000.  I am not sure why the market has turned around here.  My indicators called for more of a decline.  So we'll have to wait and see.  I did have an overnight order in for the SPY February puts and it got filled in the morning.  It is already showing a loss.  If it gets stopped out I may move to a higher strike price.  Or I may just move to the sidelines.  GE was up 1/3 but the volume was lighter.  Gold sold off today as the futures lost over twenty dollars.  The US dollar was a bit higher.  The XAU fell 1 1/4, while GDX lost 1/2.  Volume picked up to the downside.  My GDX February call trade got stopped out for a 50% loss.  The up trend line from December for GDX got broken today.  It is the logical place and time to exit that trade.  This was a winning trade that again turned into a loser.  That isn't the scenario for success.  Mentally I'm feeling tired and physically I'm still under the weather.  I'm beginning to wonder if perhaps my mind isn't up to the task here due to the flu.  Perhaps sitting out for a while is the better course of action.  I am getting better though.  The VIX had a gap lower today but does remain above its 200 day moving average.  The market has gotten very bullish in a hurry here.  I'm not sure what that means.  The short term technical indicators for the S&P still have plenty of room to move higher.  So it could be that the decline of the past week or so is finished.  We'll probably know by the end of the week.  We'll have the state of the union address tonight followed by the impeachment vote tomorrow.  I mention these things only for what effect that they might have on market movement.  Owning the puts now, I can only hope that it is a sell the news event.  However hope is not a viable trading strategy.  Europe and  Asia were both higher as the China virus scare may have run its course.  We'll see how things go tomorrow.

The Dow rose 143 points today on good volume.  The advance/declines were close to 2 to 1 positive.  The summation index is moving lower.  I caught the flu over the weekend so the blog today will be cut short.  Hopefully I'll recover as the week goes on.  I'd still like to attempt the SPY February puts if we continue higher into Thursday.  GDX is still above its up trend line but another down day will break it.  More tomorrow.