Heading into the open, stocks are looking to take a breather as they are a bit off of yesterday’s close. However, it is not news-driven, and don’t be surprised if the bulls jump on  this early on and try to buy-the-dip.

We have a number of reports coming out this morning starting with Housing Starts and Producer Price Index at 8:30am EST, followed by Industrial Production at 9:15am.

I remain only in a long position of gold (GLD) as I try to patiently wait for this market to run out of steam so I can start reloading on the short side again.

Here’s Today’s Trade Setups

LONG: Gammon Gold (GRS)


SHORT: California Pizza Kitchen (CPKI)