11:19 am PST. I bought puts on AAPL too. I think AAPL is topping out and will lead the tech stocks lower. AAPL had 600,000 shares block traded at 119.81 and 500,000 shares block traded at 120.00. Plus it is below the S1 pivot right now. If we close below the prints, look out below!

Steve Jobs, may you rest in peace. I walk by your old house from time to time. I bought the last three of your company’s iphones, and I love your products.

10:54 am PST. I bought some SPY puts because I am calling a top here. I see the dark pool SPY action coming in now at 226.78 – so far about two million traded. I am sure there are a lot more that will slowly trickle in and show up tomorrow too.

10:31 am PST. I scaled out of UGAZ +1.97. I think the rally is still good, just trying to free up some capital to possibly buy more mining stocks. I want to see a strong close for the miners.

10:06 am PST. 1,033,364 shares of GDX just block traded at 22.67. I bought a little JNUG. This could be a bottom here for the miners. GDX has to close above 22.67, though, for me to want to hold on. GLD also had total 600,000 shares a traded at 114.29-114.30.

We had our Trump rally when he got elected in November. Now that he will be sworn in tomorrow, I think the market is going to sell off. I am calling a top today. Watch out below! Okay, I will qualify that – the market “might” sell off. The flip side to thinking this is a top here, is that there is not a whole lot of dark pool action, I have to say, and usually that accompanies a big market move, but the lack of dark pool does not preclude a top from occurring. They could just be hiding their moves.

QQQ bumping up against the top of the channel.

9:07 am PST. I have to say that I really like ABX. It is on my buy list. It had about 350,000 shares block traded today from 16.90-16.93. The 4 EMA day sits at 16.92 and there is a pivot at 16.92. If ABX can close above all of this today, basically above 16.93, I am buyer. If we close below, then I will wait. The trendline that was resistance in November-December could be really strong support.

8:37 am. out VALE breakeven. IAU print at 11.57 for 171,419 shares.

8:20 am. I was looking for signs of a bottom, but all I see are signs of a top. SPY had a 502,000 share print at 226.78, which if we close below is bearish. AAPL looks like it is topping out as well and had a 600,000 share print at 119.81 which if we close below is bearish. The QQQ looks like it might have completed five waves up this morning. Today’s close is going to be interesting, especially with Trump about to be sworn in.

The GDX RSI also never went into overbought territory with this most recent high a few days ago. And the GDX made a lower high, yesterday which is interesting, it could be interpreted a few different ways….

8:12 am. 350,000 shares of GLD block traded at 114.29-.30. Not huge but interesting. Certainly if we close above all these prints, that would be bullish.

7:51 a.m. PST. Part of me wonders whether this is a buyable low on GDX. VALE had 1.5 million prints a moment ago at 9.72-.74. I bought some VALE. I want to see prints on GDX. IAU had about 900,000 shares printed from 11.52-11.54, which is significant. If we close above that, perhaps this might just be a buyable low.

7:43, For the record, today, I closed out my QQQ swing calls for about a 25% gain, but my FAS did not fare as well as I stopped out.

7:38 am PST. UNG catching a bid this morning. I think it is worth watching. The correction might be done. FCX is also worth watching. If FCX can close in positive territory today, that is a good sign.

5:10 am PST. I am watching for signs of a bottom in S&P, Dow, and Russell. I am staying out of gold at least until tomorrow or Monday – giving it a two to three day correction at minimum.