VRX

VRX looks like it wants higher

AAPL

Bye bye AAPL. May find some support at 378 but i would not count on it. I would give it a couple days for the selling to subside

The Stock I HATE

Yes AAPL earnings is this evening after market close.. Something tells me they will get sold off but as I know thats why it is the top hated stock I ever traded.

Spec Play

Spec play - ACOR long $39.45

AAPL-

Bloodbath in AAPL- Sorry you bagholders who listened to Cramer

Markets Crushed

Markets are crushed Equities and Commoditites.
50 EMA is 1536 on the S&P watch for support there

Gold Update

just hit 1360- that's heavy selling- seem climatic but who knows sine a lot of the move is Euro based.  Resistance is still that 1460 area mentioned months ago and 1305 looks like a intermediate target on the downside

Gold

Gold last bagholders are running. I thank one of my buddies months ago telling me not to get tricked into Gold because all the big guys are getting out. That one was dead on as we could not get above that last important 1640 level on the last push.
Watch for longer term support @1245 is 1400 can't hold medium term

wow- Biotechs

I guess I sold too early- BIIB and CELG still looks higher-

Gold and Oil

Gold and oil down huge this morning. Money flowing from these into equities?

CELG

CELG just awesome just traded $120 and I am all out

Biotechs have been on fire for the last two months and spoke about it many times- BIIB also a nice play

Goldman shorting Gold

Goldman Sachs downgraded its 2013 price target for gold (Exchange:XAU=) and advised investors to short the precious metal, in a commodities report out on Wednesday.

Resurgence in euro area risk aversion and disappointing U.S. economic data , gold prices are unchanged over the past month, highlighting how conviction in holding gold is quickly waning," said Goldman Sachs analysts Damien Courvalin and Jeffrey Currie in the note.

The analysts cut their gold forecast to $1,450 per ounce for 2013 and $1,270 for 2014, the second cut in their price target this year.
"With our economists expecting few ramifications from Cyprus and that the recent U.S. slowdown will not derail the faster recovery they forecast in the second half of 2013, we believe a sharp rebound in gold prices is unlikely. Given gold's recent lackluster price action and our economists' expectation for higher U.S. real rates, we are lowering our U.S. dollar-denominated gold price forecast once again."
"As a result, we recommend closing the long COMEX gold position that we first initiated on October 11, 2010 for a potential gain of $219 per ounce, with the risk reversal overlay expired on March 25. While there are risks for modest near-term upside to gold prices should U.S. growth continue to slow down, we see risks to current prices as increasingly skewed to the downside as we move through 2013," Courvalin and Currie said.
UBS also cut its 2013 outlook for gold this week to $1,740 from $1,900. However, the bank held its 2014 forecast steady due to uncertainty regarding the euro zone and a possible end to the U.S.'s ultra-easy monetary policy.

"Gold has faced many challenges already in 2013: market concerns on the longevity of the Fed's quantitative easing, a rotation into equities, benign inflation and the focus on better economic growth are valid threats to gold's upside potential. A stronger dollar (Exchange:USD=) also poses a challenge... These realities warrant less aggressive price expectations," UBS analysts wrote on Tuesday.

Spot gold prices (Exchange:XAU=) have fallen six percent year-to-date, while the MSCI Gold Index has fallen 21 percent. On Wednesday gold traded at $1,579 per ounce.
Gold bulls however have stuck to their guns in the face of several downgrades for the metal.

Philip Silverman, managing director of Kingsview Management in New York, advised investors not to bet against gold last month because central bank demand remains strong . According to the World Gold Council, central banks' gold purchases in 2012 were the highest for nearly 50 years, as banks sought to diversify their reserves.

"You don't fight the stock markets when the Fed is easing, so you wouldn't want to fight the central banks when they're buying gold, because they have deep pockets," Silverman said.

Martenson

http://finance.yahoo.com/blogs/daily-ticker/p-500-may-fall-more-40-fall-chris-120957460.html

CELG

Still on the move- biotechs are hot- CELG, BIIB etc

New hIghs

Been sick with my sinuses so I haven't been up to posting much in the last week. I am still in the high mode and think we can still make new highs. It is evident the market is in a trading range at the high area and since pullbacks have been swallow it is therefore in my opinion we will trend a bit higher.
Now Ii have been asked about when do I think the market will be a deep pullback, well that question might be difficult to answer since we are well over the 50ma but I will be looking for a top when I see the general public start saying they are going back into stocks. Yes usually the 90% of players are wrong so when the masses are all long then it is time to be extremely cautious.

In the mean time we just start earnings season so the next 2-3 weeks should be neutral to bullish providing we don't have a diasterous earnings from a heavy weight.

Still Biotechs are on fire!!!

AAPL

AAPL looks so weak- No love for that one right now- how are the bag holders that Cramer created at $600 doing.

New Leaders!!1

CELG

OUT 90% OF POSITION

Monday- New Quarter

Dont expect much today since most of the world's markets are on holidays today. Expect range and volume to be thin.