The Fed and Bernanke came and went. We broke above resistance yesterday and the trend is going to be upwards for the near future. The Dow gained 95 points on average volume. Advance/declines were 2 to 1 positive. Summation index going higher. All systems are go for higher prices. The Fed said nothing new. It didn't matter, the stock indices are in rally mode. We'll see how high this move takes us. GE gained 1/2 on good volume. The calls here should have been purchased Monday or Tuesday. It doesn't do any good to look in the rear view mirror. Gold rallied as well, up $13 on the futures and that much again in the aftermarket. The XAU gained 4. ABX and GG were up 2/3, while NEM rose 1 1/8. Volume was good. The gold shares were lower early in the day. We actually got a buy signal on the Gold/XAU ratio. I did place an order for some May ABX calls but I was too late. I adjusted the order and left it in overnight. Yesterday I stated that I would not be looking to try the gold share calls at this time. Things have changed. Gold is going parabolic at this stage it seems to me. If I can get the price I want on these calls, I'm willing to take the risk. The US dollar got pounded today and that helped gold and the stock market. The dollar is in an area where previously we would have seen a short term rally. However we broke down instead. This is saying that the dollar market is even weaker than it looks. That should support the price of gold here. It is also fuel for the stock indices which have broken out of resistance. The trends are up and calls are the only game in town at this point in time. Mentally I'm a bit tired, did not sleep well. So I'm ready to try another trade here and we'll see what happens. It could be that we are at the end of these up moves as well but I really don't think so. The stock market is short term overbought. However any pullbacks can be purchased in my opinion. The daily chart on ABX actually shows the technicals more oversold due to the takeover bid sell off. So we'll see what happens. GDP tomorrow and the end of the month on Friday. Should be interesting.