Onward and upward as the Dow gained 53 points on good volume.  The advance/declines were 2 to 1 positive.  The overall market was stronger than the Dow and that bodes well going forward.  It appears that we are breaking out to the upside from the recent consolidation.  Overbought, staying there and the song remains the same.  It is a momentum driven rally for the stock indices.  Nothing has changed to derail that fact.  Calls are in order until further notice.  GE gained almost 1/2 on average volume.  I thought GE might pause here given the 5 wave count on the daily chart.  It's still possible if we drop from here but that doesn't seem likely after todays action.  No trades here for now.  Gold continues to languish.  The futures fell 5 bucks even with a slightly weaker US dollar.  The XAU dropped 1 7/8.  ABX, GG and NEM all had fractional losses on good volume.  I suppose I'll be looking at the April gold share calls on a drop in the price of gold to $1550.  Not sure this is the right idea either.  Perhaps I'll simply watch the gold proceedings from the sidelines.  Mentally I'm feeling OK.  Traders returned in a buying mode after the holiday weekend.  We've got some economic data out this week.  Inflation and housing numbers are due along with the Fed minutes out tomorrow.  So we could see a pick up in volatility.  I have no trades on the near term horizon but I am considering some OEX puts if I see a short term top in place.  No guarantees that will be my next trade though.  We're due to see all time highs on the Dow and S&P 500, since some of the small cap indexes have already done so.  I'll be watching and waiting for the next opportunity but nothing at present seems to be viable to me.  Plenty of time in the March option cycle as it has just begun.  We'll keep an eye on Asia and Europe tonight and go from there.