GOLD

Gold is getting slammed but not a surprise after we have been virtually struggling the last two weeks. Never the less that's a big hit indeed. Silver lower but not as bad comparatively. Definitely see Silver getting below $30 area. In the mean time the market continues its melt up and though the volume is light I would not be shorting here

APPLE

Again APPLE works its magic with the new IPAD- Really sold out before it even is released is just unbelievable. Whatever magic folks thought would be gone with Steve Jobs are wrong but the new IPAD was in works while he was still alive- Being a huge APPLE fan I hope they continue were he left off. I might think about getting a IPAD2 since I already have a macbook pro but I will wait and see what this new IPAD looks like this weekend at the store at least.

ZOLL!!!!!!!

I guess I got out of that one 1 month too early- wow- can we say a buyout- stock now trading @$92 I suck!!

PAY

Taking the rest off here @ $50 Super duper play. again patience!

VIX

Scaling my VIX long here 1/2 + 30% gain. Patience was the key.

PAY

PAY just hit $49- Bingo $50 would be a 10% gain, not bad for less than 4 days - Taking some off here and riding the rest

Finally

We finally hit the 2011 highs on the S&P. After an initial downside opening off Europe news, the market found its lows early and ratcheted higher. The 2011 highs in the cash S&P 500 were hit but couldn't hold there into the close. Breadth was flat and volume came in better on both the NASDAQ and NYSE. There was no celebration, no party poppers, no CNBC hats it was just a target being achieved. So now what? Now it's time to watch the market's next move. Will we reject? Will be go through it? Will we go sideways? Here's my thoughts. We have serious resistance around 1381.75, which is just about 10 points above Monday's highs. That's the 78.6% Fibonacci retracement of the swing down from the all time highs to the 2009 lows. While the 2011 highs may come in as resistance here, I expect that retracement level to at least provide a stutter step for this move. If we break right through it, I will be watching for a stall out and a shorting opportunity. The best thing for the bulls into that level would be a test and hold (or slight break) and then a wind up or pullback to break through.