AAPL

No love for AAPL- New year low again- sub 425 close would look terrible technically.

Interesting Fact

The last four weeks the S&P has ended at 1518,1520,1516 and 1518. We are in a tight coil with not much going on. I believe we break the coil next week and go upward.
Remember tuesday this week all the talking heads calling for a major pullback, personally I don't see it. Hard to buy here but I am not in the camp we retreat yet. I believe we will grind up till April.


Expecting new highs next week, though it will be in weak hands

APPLE

New 52 week lows on AAPL

Speculative play

Bought some PANW @$60.40 as a speculative play today.
Using a $3 stop

CELG Update

CELG looks like it it in break out mode- new highs here.

that one was a nice options play- lucky i rolled out of feb into march- Riding them till expiration

30 point range on S&P Yesterday

An ugly day as the market gaps up, pushes a bit higher, and then gets cracked wide open.  Volume came up and breadth was pretty Bearish.

The S&P 500, Dow and Russell now look headed for their respective 50 day moving averages, and the NASDAQ looks headed to the 200 day moving average. My opinion has not changed, I still believe we will try for new highs, but we are in the midst of a correction.


Watch for 1477 on the S&P AS SUPPORT- 50EMA

Goldman cuts Gold target

MADRID (MarketWatch) -- Goldman Sachs cut its gold price forecast for this year, saying while the latest sell-off is "likely excessive," it has "exposed a quickly waning conviction in holding gold positions, especially ETFs (exchange traded funds). In a note dated Feb. 25, Goldman cut its three-month gold-price forecast to $1,615 an ounce from $1,825, its six-month forecast to $1,600 an ounce from $1,805 and its 12-month forecast to $1,550 an ounce from $1,800. Goldman said recent moves in gold and U.S. real rates have "anticipated the turn in the gold cycle that we had expected for the second half of 2013," in the note. April gold futures GCJ3 +0.30% rose $13.60 an ounce, or nearly 1%, to $1,599.80 an ounce as perceived riskier assets sold off in the wake of an inconclusive result for Italian elections.