More of the same today as the Dow gained 54 points on light volume.  The advance/declines were 2 to 1 positive.  Perhaps todays action will turn around the summation index.  The economic data out today was pretty much in line.  The next Fed chief spoke before Congress and the easy money policy doesn't appear to be going anywhere.  The stock indices are riding a wave of liquidity and cheap borrowing costs.  There is nothing in the way of higher prices going forward.  No resistance technically.  Enjoy the ride.  At some point the ride will end but it's anybodies guess when.  GE was off 1/8 on average volume.  Gold saw some life on the easy money reminder.  The precious metal futures rose $17.  The US dollar was up a bit as well.  The XAU gained 2 1/4.  ABX did not join the rise in prices and finished flat on the day with good volume.  The stock dilution story here is still the main driver of price action.  GG up 1/2 and NEM added 3/4.  Volume was average.  No trades in the gold shares here for me but the technicals are coming off of oversold readings.  However I've lost enough money trading gold from the long side this year.  Mentally I'm feeling OK.  The small stocks are lagging the major averages here and that isn't exactly bullish.  The relative strength is currently with the big caps.  However as long as the buyers remain the trend is up.  We are overbought on all the medium term indicators for the stock indexes though.  Hasn't meant anything yet.  All pullbacks are being purchased.  Gold appears to be trying to make a stand at $1260.  Not sure if that will be successful.  Oversold both short and medium term here but that doesn't mean things will simply turn around.  We'll close out the week with option expiration tomorrow.