Another new high for the Q's that makes 7

Okay this is starting to feel like a trend. Hopefully you have all been able to ignore the bears and stay focused on the long side. This is a classic example of wanting what the market wants not what the talking heads want you to believe. No one can denie the continuous bad news, layoffs, bad earnings and continued banking scares. However the market is rising and that is all that counts.

With 7 up weeks in a row however the odds sure are leaning towards some profit taking here soon. Some are feeling that the party is almost over and the bears are about to return. Be careful out there.

In the meantime the gold play last week is working out. The double bottom held and we had a nice rally for the week.

I still have not given up on oil yet. The last month has been boring but I still think the bottom is in here and will continue to add after this 4th wave correction.