Up, up and away as the Dow gained 350 points on good volume. The advance/declines were better than 2 to 1 positive. The summation index is moving higher. The inflation data came in where expected and retail sales were flat. That was enough to entice buyers to send the Dow, S&P 500 and the NASDAQ to new all time highs. The Dow is knocking on 40,000. There is now no overhead resistance so we'll have to see how far this can go. The S&P 500 remains short term overbought with some of the indicators at extremes. It won't last forever but we'll simply have to enjoy the ride. Obviously we missed this move higher and had a losing trade attempt earlier this week. But the show must go on as the market doesn't care about my trading results. Two days left in the May option cycle and we'll watch from the sidelines with regards to the SPY. Gold was up $33 on the futures. The US dollar dropped along with interest rates. The XAU gained 1 1/2 and GDX was up 1/2. Volume was average. GDX is short term overbought and staying there as well. It is up against its upper Bollinger band on the daily chart. We missed out on the GDX May calls although there were opportunities. My analysis seems to be off right now so I'll have to tread lightly. We will try and wait for oversold conditions before trying the calls here again. Mentally I'm feeling somewhat disappointed at missing out on profits this option cycle. However not every idea will work and you certainly cannot expect to be correct all the time. I suppose we'll be thankful that we only lost a small sum of money this time around. The VIX was lower and is still short term oversold. Getting close to the 12 level here which was the previous low back in December. Not sure what's next here on the VIX. Europe was up and Asia generally lower with the exception of Japan overnight. We'll keep an eye on tonights developments.