As the expected, market went up higher but under performed gains in the global markets. There may be another day of upside before correction in a short term. I'd watch SPX 1260 for potential support, and on the upside, SPX should be capped at 1305.
We made nice gains on day "1" of 2012. Booked 17% in GLD and 32% on the Costco call. Overall 51% gains and portfolio is up by 6%. Two open trades are sitting at a loss of about 10% each and if correction kicks in, we should have them winners as well.
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