The Dow broke out to new all time highs today, up 283 points. Advance/declines were over 2 to 1 positive and the volume was heavy. We have broken out of a multi-week consolidation in the indices and will be going higher. In retrospect, Tuesdays sell-off was the end of the selling. It got rid of all the rest of the sellers. The same thing happened in the gold shares 2 weeks ago. Speaking of which, the XAU was up almost 5 points today. Gold itself was up $6. ABX was up 80 cents on good volume and even NEM was higher. The volume on NEM was extremely heavy today as it rose almost a buck. I think it might be ready to take out that weekly downtrend line soon. I am looking at the August calls there now. However, the relative strength remains with ABX. If we ever get a pullback there, I'm long. Perhaps next week but the way this thing has taken off, who knows? GE wasn't moving with the overall market early on. The earnings are out tomorrow. Late in the day it started to move higher. I bought some July calls. This is another short term scalp trade that I really don't feel comfortable with but I did it anyway. The market should follow through tomorrow to the upside and I'm thinking that GE will lead the way since it didn't do much today. I could be wrong. I did not put a lot of money in this trade because the risk is so high. If it doesn't work, I won't be surprised. But with the market moving like this, tomorrow should be a good day for the bulls. We'll see what happens. Mentally, I am feeling a bit frustrated for not catching the gold share move. I'm sure there will be another chance to hop on board in the next couple of weeks but I would already like to be there. I am also a bit tired due to not a good nights sleep. The summer is usually a slow time for the markets but that is not the case this year so far. We'll see what tomorrow brings...