The Nasdaq has now broken out above the first of two major resistance zones at 4250. Once it breaks above 4290 there is nothing but air between there and the all time highs above 5000.
The SMT commodity portfolio is leaping higher as coffee surged 9% today and the grains and softs are just starting to join the party. Actually all of the SMT portfolios are racking up nice gains so far this year (currency portfolio, stock portfolio, commodity portfolio, metals portfolio and bond portfolio). I realize most people see this as a gold bug site but I actually think the biggest gains this year will be made in the AG sector.
I think we are in store for another 2010/2011 type year and the frustration of having to endure 2013 will turn out to be well worth the wait.