We started off the new year with a whimper as the Dow fell 135 points on light volume.  The advance/declines were 2 to 1 negative.  I did not expect the negative action that we saw today but the market has been very overbought any way you look at it.  I do not think that this is the beginning of a major decline just yet though.  It takes a little time for a top to be built.  I believe that this is the beginning of the building.  We may still yet see new all time highs in the coming days but we are near the top for stocks, not near the bottom.  Any calls buying should be short lived in my opinion.  GE dropped 1/2 and the volume was good.  The last six months on the daily charts have the look of the A-B-C-D-E 5 wave up move for GE.  That move is now over.  I am not considering the January GE calls anymore.  Gold is now in rally mode as the futures gained over $20 despite strength in the US dollar.  The theory of money coming into gold and the gold shares at the beginning of the year is valid.  The XAU rose 3 1/3.  ABX up 1/3, while GG and NEM gained almost a point.  Volume was good for the gold shares which validates the move higher.  Any move lower for the gold shares should be bought for a short term trade.  I'm still considering the January calls here.  However I am late here as my order wasn't filled on Tuesday morning.  Mentally I'm trying not to let the unfilled order for the GG calls bother me.  You have to be nimble and make adjustments in the game.  It isn't always easy.  Usually the first day of the new year is positive.  I'm not saying today is an omen for the rest of the year but I will say I doubt we will see the size of last years gains again.  2015 will be a good year for stocks though.  I'm sticking with my prognosis of a top being put into place in the beginning of the month and we'll see where we go from there.  Gold and the gold shares are on the move higher.  We are right at a down trend line on the daily charts for the XAU that has been in effect since September.  We may pause here but a break through that line will bring even higher prices.  Hopefully it's not too late to make some money there.  The January calls are the way to go I think, even though there is only two weeks left in that option cycle.  We'll keep an eye on developments overnight and take it from there.