That was the quickest first of the month rally in awhile. Nervousness continues in the pre-market today. I suppose one reason for trepidation among the gold bulls is that with some economic growth in the US and mixed opinions at the Fed, maybe another QE is not quite the no-brainer. Tempted to short the pop over 1400, but it is May and I am going away!!!! Apropos of nothing, there is the usual chatter that markets have to climb a wall of worry, that put-call ratios are suddenly high again etc. All this with an understated expectation that markets cannot fall while the worry is so large. Once in a while it would be nice to see markets fall down while they are trying to climb said wall.