Where I think we go next

Here it goes! Some people been asking where I think the market will go in the near term. I think we can really push a little higher here but longer term we will go below those lows seen in March. Today was one of the crappiest days I have had in awhile intra day, most of the trades just s/o but lucky for me I was playing smaller size lots because I wasn't feel to good health wise with my sinuses.
I think there is a good shot we go to 13100 area int he next few weeks. It would not be out of the question for a company like Microsoft to blow out earnings and send us high by 300 point from here. The great thing about that is that earnings season will soon come to an end and if we make that target while in earnings season that would be a good high probability short.
We are coming up here to first real test on the upside for the markets. S&P 1396, which is just 17 points away should provide some heavy resistance.
I think China will get hot again as we come closer to the olympics and the government does everything to make China the new world power to the world.
I have been asked about gold by a few people. Personally I think the gold trade need to rest and I wouldn't be surprised to see gold pull back especially if the market grinds higher. Also Oil has been up 15 out of the last 16 trading days and it is in a parabolic move here which requires a pullback. I would love to see oil pullback to a $109 area.
Lets see the effect of the Apple earnings tomorrow they weren't that spectacular and I expect Apple to trade back to the $140 level in weeks...

See you tomorrow

trade update- IPI

IPI trading up nice premarket +$2 for a overnight hold. I just sold 1/2 + $1.80 pre market, will ride the rest

Update-SOV, C

Someone asked me yesterday about my amazing short on SOV. Yes I am still short from $12 area and I think this one goes to $4. We will see soon enough.
Also I still like Citibank to $10 believe it or not. Last night I read an article by a hedge fund manager citing Citibank problems and he shorted last week at $26.30. I think shorting here with a $30 stop is safe, this think will be a teenager stock very very soon.

Two stocks for the long haul -SHORT

Here are two stock I believe will go down substantially in the next year.

OEH, Orient Express Hotels(41.35) and
CMO, Capstead Mortgage. (13.36).