Gold $1100?

I don't think gold $1100 will be an easy thing to accomplish, and with everyone talking about it will be that much harder. Its hard to believe that gold will push higher based on momentum when price is becoming parabolic. I not going to play gold until we pullback, the area I'm looking at is just below $1000 an ounce about $990. Some people might believe we will not see a pullback in gold any time soon, but today the dollar is strong and will continue to get stronger this week. Until I see something too juicy to pass up I will not post any trade ideas on GLD.

As for the equity market we are starting to build a sideways to lower channel which will be good for delta neutral traders. The range I will be watching is $1080 to $1020, and below is a trade idea I have for the SPX. One thing about this trade is that you are short vega and if volatility levels continue to slip you maybe able to take profits faster then planed. I am going to set this trade off set and slightly bullish. The trend is still higher and I'm giving my position an edge.