The day of reckoning has arrived according to Marc and Mish – meanwhile the stock market continues to grind higher. Mish is a registered investment advisor representative for SitkaPacific Capital Management while Dr. Faber runs http://www.gloomboomdoom.com

So Dr Faber has a pretty funny personality and talks about the rampant spread of over regulation as he was carded while trying to get a beer at the Chicago Airport. As stocks have soared 70% since a year ago, listening to the doom and gloomers certainly makes you wonder why there has been such a massive rally. As a trader myself, I try not to get too carried away with the deep fundamental and macro analysis that these gentlemen speak about, but clearly they are smart fellows and interesting to listen to regardless. Marc says to get into farmland, gold, and hard physical assets. Today POT had a nice breakout lifting all related stocks in the agriculture sector, while GLD closed with a doji after a few down days and looks ready to bounce for a few.

AAPL had a gap open higher today and finished the day with a closing price lower than its opening price. In the candlestick world this is called a filled black candle and sometimes leads to a short term reversal. Apple could keep going higher here but with the market straight up for basically the past two weeks, its all but certain one of these mornings we’re going to wake up to futures down by 50 or 100 so taking some profits would probably be good here.