Weakness in the dollar index, lead to a strong rally in the commodity complex Friday. DIG, UYM & OIH were all up over 3% followed closely by XME and XLE which were also up over 2%. There was some weakness in retailers and consumer staples but nothing to get excited about.


There was some decent action in the morning and then things quieted down in the afternoon with a slow grind up to new 2010 highs at the end of the day. This is still a strong tape and is showing no signs of giving it up.

GLD had a nice bounce off of the 20 day MA and looks like it may want to break out of range that goes back to December. Keep an eye on the $114 level. You may recall that Soros doubled his position in GLD and that story is sure to get a lot of play if GLD starts to breakout.

The earnings parade continues but there are no economic announcements Monday and a Fed announcement Wednesday so be picky in your trading early this week.

The following ideas may be actionable:

abx 42 long

aem 62ish long

wcrx 28 long

asia 30 long

fnsr 14.47 long

gg 41 long

luv 14 long

netl 34 long

nfx 57 long

nsc 61 long

hgsi 27.32 reversal/support buy on 150 day MA

ilmn 36.10/35.96 reversal/support buy on 200&150 day MA