Knocking on the door of a new all time high for the Dow and 2100 on the S&P 500.  The Dow gained 47 points today on average volume.  The advance/declines were positive.  The summation index continues to the upside.  A holiday weekend on tap for the US markets.  We'll see how high the market gets in expiration week with its usual positive bias.  Really nothing to be but long here.  Declines continue to be bought and will be in my opinion for a while.  Overbought, staying there and no reason to be short or buy puts.  The small caps continue to lead the way and that is bullish.  GE was up 1/4 on better volume.  Above the 50 day moving average now and we've broken the down trend line that began last November.  My GE March calls are now just slightly in the red.  Five weeks to go for this trade and there should be enough time to turn it into a winner.  Gold gained $6 on the futures.  The US dollar was flat on the session.  The XAU rose 2/3 and GDX was up 1/8.  Volume was pretty light for the gold shares as traders interests now lie elsewhere.  The safe haven trade is over in my opinion but could resurface in the future.  No trades for the gold shares at the moment for me despite the upcoming earnings reports.  Mentally I'm feeling OK.  We've had a decent rally in the major stock averages and I believe that it has a lot further to go.  Once we break out to new highs there will be no overhead resistance.  The only way to be here is long until proven otherwise.  If by chance we see some type of pullback I'll be looking at the SPY March calls.  The ideal situation will also show the short term technical indicators as oversold.  Hasn't happened yet and may not.  We could just plow higher.  GE is looking better on the weekly chart as the technicals there have now turned up.  It would help to see better volume though.  I'll be checking the charts over the weekend to see if I can come up with any other trading ideas.  For now it's Friday afternoon and time for a rest.