Market had confirmed it’s up move!

Ok, the market has confirmed it’s up move and it seems that everything seems to be turning as credit spreads have eased and most financial reports are largely being ignored.  We have to now reset all the resistence levels as the previous resistance has become support.  Here they are:
DOW 13200   Nasdaq 2500   SP 1410
Those aren’t exact figures but around there.  So there’s 2-4% upside left I think.  I’m current become slight more inclined to be long but I am still very very cautious.  I’ve taken up most long global positions.  Value Click looks tempting to me but I decided against it as it has earnings on May 6th and I hate that earnings game.  I’m still very high on commodities as the world still ramps up on production and modernization.  It’s a very very long term story but the food crisis is also here to stay.  As the world gets modern, we waste more food.  It’s just what happens.  Too much money chasing the same amount of food.  But alway pick up protection for your trades…either covered calls or just putts.  I’m still very negative on COF and GRMN.  But since then my friend has convinced me about the negatives of Game Stop which is everyone’s all time favorite.  But the possibility of downloading games directly to consoles instead of going through retailers is a very real possibility.  Cutting out the middle man is disastrous to retailers but especially GME!!!  But it’s a long term trade but with just one single announcement that stock is dead meat.

Disclosure: I’m currently long RIO, TRA and short COF