Market Summary

Markets had a solid green day with akll major indexes rising >2% and small caps leading wiht IWM rising >4%. I mentioned in thursdays post that 88.15 is key on SPY and on friday it held and today it was the day for bulls and they ran with the ball hard. Volume was light on SPY but IWM and Q's volume was heavy. Sectors wise Reits led the advance followed by minerals materials. Retailers and consumer discretionaty also were big gainer. The main reason for retailers/discretionary stock to rally was the consumer confidence report which was way better than expected. Gold was down today.
On gold weakness I added to miners GDX AUY which I had reduced on Friday.
I had a good day in my acct and sold 90% of TBT with gains north of 10% in last 5 days. I added to my UNG position and also initiated new positions in KBH, CIT. I guess we may see some further upside this week and I will reduce my longs in that strength. I think I have lots of position in my hands to manage and will only initiate new positions when I close some.
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