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Happy first weekend of spring everyone. Yeah, spring technically started on Tuesday, but for those of us who are glued to the markets all the time, it doesn't do us any good until the weekend. And, it looks like it's going to be great weekend weather for most of you. Add sunny skies to some great college basketball over the next couple of days, and there's a lot to be stoked about.

The weekend isn't quite officially here though, and we've got some market-related business to take care of as well as quick note for you regarding our newest Featured Stock, Premier Alliance Group. First things first though.

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Good early morning all. As promised in yesterday's edition, we've got a new idea for you today we believe has enormous potential. As many of you already know, we've been very successful in recent months providing you with new ideas that have yielded more than stellar returns on more than just a few occasions. Our biggest wins have had two very common denominators... fundamental and technical appeal. In other words, there were significant positive changes or fundamental developments with those companies AND their charts looked very ripe for entry.

We brought you VirnetX (VHC), Rite Aid (RAD) and VocalTec (CALL) just to name a few... all of which we think fit the same profile as today's new idea which appears to be no exception.

We're giving you an opportunity and first look at Premier Alliance Group, Inc. (PIMO) before we launch it as a Featured Stock on the site after the close today. I think Premier Alliance Group is going to start getting a lot of positive attention and you know how I feel about these situations. The best time to get involved with the right small cap idea is to get in before the rest of the small cap world finds out about it.

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With yesterday's nice move to the upside, looks like the major indexes are taking a breather this morning. Don't be surprised if by tomorrow or even the end of the day today we get back into rally mode. That's been the theme all along... short pullbacks to shake the weak hands then back up the charts we go. We have no clear indications yet that the market wants to start retracing the gains it has so impressively managed to build.

We told you yesterday we're going to keep a very close eye on the VIX from here on out though. The indicator moved slightly higher today which doesn't suggest to me that there's enough complacency in the market for it to selloff just yet. If you're playing the index options on a short-term basis, now wouldn't be a bad time at all to pick up some QQQ call options a month or two out. That trade has been extremely rewarding for those of you who have been acting on my commentary.

I've got a couple of key updates for you this morning so let's get after it...

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Hope you had a great weekend. It rained here all weekend. My golf tournament got cancelled and I'd like to know if any of you have an explanation for why it always seems to rain most on the weekends? Thank God for NCAA Basketball I guess.

The markets have appeared to enter more of a grinding mode in recent days. The longer this continues, the more convinced I am that we'll want to make new highs. However, there are some interesting things taking place in the market and since it's Monday, I thought today's edition could serve as a backdrop to help you navigate your way. First, I think it's important to point out that the S&P and the DOW both outperformed the NDX last week which, if I'm not mistaken, has only happened two weeks out of the year so far. It's too soon to tell but it could mean a flight to more cyclical names and conservative ideas.

What's even more compelling is the VIX broke below its three year low last week briefly and bounced back. We're approaching extremely complacent levels so we're going to start keeping a very close eye. The VIX is the ticker symbol for the Chicago Board Options Exchange Market Volatility Index, a popular measure of the implied volatility of S&P 500 index options. Often referred to as the fear index or the fear gauge, it represents one measure of the market's expectation of stock market volatility over the next 30 day period. The VIX is quoted in percentage points and translates, roughly, to the expected movement in the S&P 500 index over the next 30-day period, which is then annualized.

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Hope your week is going well for you. The markets are cooperating. Love it when that happens. Of course things can change on a dime but for now we're getting full cooperation. The indexes provided another mid-day pullback yesterday and it proved profitable for short-term option players if you read our market commentary each morning. If you missed it, you can read our thoughts on short-term entries in the major indexes here.

There's a lot of naysayers out there who continue to embrace a lack of trust for this pretty amazing rally we've had for quite some time now and many of them have had their ass handed to them time and time again. Let me just say one of the biggest mistakes traders and investors make is everyone wants to be the guru that calls the top only to get pounded at the expense of their own account. I've been there and it's no fun. I'd rather be quietly right, follow along and let the market tell me when things are turning via reliable signals rather than have no significant basis for calling a major trend reversal.

Just because the market goes up and up does NOT mean it's due for a pull back. As a matter of fact, short sellers being proved wrong can often be one of the biggest reasons why a stock or an index continues to move higher. This could very well be the case why this market has continued to move higher.