Obviously, the market is waiting for Europe. But Mr. Market's "personality" seems to have changed - no longer running for cover every time someone in Europe says something wrong. That tells me we'll need a real disaster to break this market. Always possible - but a bad bet, methinks.

Gold is another matter. It really looks iffy right now. There is some good news though - the stocks are starting to outperform the metal with small caps outperforming big caps. It's subtle, but it's been that way since the bottom in early Oct. I own GDX & GDXJ from options assignments, and I plan to hold for now.