The jobs report came in hotter than expected but stocks seemed to take it in stride as the Dow slipped 87 points on light volume. The advance/declines were shy of 3 to 1 negative. The summation index is moving lower again. Back and forth would be the best way to describe todays session as the market was both positive and negative throughout the day. The S&P 500 remains short term overbought and stuck at the upper Bollinger band. My thinking is that the next trade here would be the SPY June puts but we'll have to go over things this weekend to be sure. Gold got absolutely clobbered today. The futures here lost $82. The US dollar soared along with interest rates. The gold shares got pummeled. The XAU lost 9 1/8, while GDX fell almost 2 1/2. Volume was very heavy to the downside. My GDX June calls got killed overnight. What was a decent gain turned into an average loss. This is sometimes the story when it comes to trading options. But it works both ways. I sold my position for a 55% loss. I'll try and put it behind me. The short term indicators for GDX turned back down and GDX closed below its 50 day moving average. It looks to me like support comes in at the 32-31 level. Perhaps I'll consider the calls here again if we make it down there. Mentally I'm feeling a bit disappointed after the loss. I would not have done anything differently though except perhaps sold the calls earlier in todays session. It still would have produced a loss. The GDX daily chart was looking bullish yesterday but not after today. Of course I could not have predicted an over eighty dollar loss in gold on the jobs number. Markets go where they want. The VIX was lower today which doesn't fit a slightly down market. Not yet completely short term oversold here yet. I'll go over all the charts this weekend because with two weeks left in the June option cycle there is plenty of time to find another trade. Leaning towards the SPY June puts but it may already be too late for them. Asia was mixed and Europe lower to end the week. It's Friday afternoon and time for a break.