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!!!
Tuesday, April 9, 2013
Monday, April 1, 2013
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
New Leaders!!1
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.
Thursday, March 28, 2013
FINALLY!!
Finally the S&P has hit a new high. So all the indices expect the NASDAQ has hit all time highs in this melt up.
Technically I still think we can go higher but now that we have tagged the S&P highs we must look at what the big boys want to do. As of now they have been in this market small and I wonder if they might jump in and push the mom and pop investors in for the last hooray and dump it out on them as per usual. It will be interesting to see but for me this market is dangerous with such low volume ranges so my advice would be to stay nimble.
One good sign I see for the bulls is that we are developing new leaders and that's what it takes to move higher. The same hot flyers of the 80 weren't around in the 90s and the fliers in the 90s weren't around in the lost decade of the new millenium and I definitely see new leadership here! just take a look at AAPL, it is not leading.
One of the big leaders now is Biotech and that's why I was such a fan of CELG and BIIB. I played CELG because if was a cheaper priced stock but I was looking at BIIB when it was around 150 as a buy, oh well you will never hit them all.
Now that the first quarter is in, I am anxiously awaiting what we do in the second quarter though if we tapper off into much lower volume I am thinking the summer might be a nightmare but right now best to look at what is in front of us and that's the second quarter.
For though celebrating Easter please travel safely and think of not just yourselves but the poor, needy and helpless and try to volunteer sometime/something that will benefit someone beside oneself.
Technically I still think we can go higher but now that we have tagged the S&P highs we must look at what the big boys want to do. As of now they have been in this market small and I wonder if they might jump in and push the mom and pop investors in for the last hooray and dump it out on them as per usual. It will be interesting to see but for me this market is dangerous with such low volume ranges so my advice would be to stay nimble.
One good sign I see for the bulls is that we are developing new leaders and that's what it takes to move higher. The same hot flyers of the 80 weren't around in the 90s and the fliers in the 90s weren't around in the lost decade of the new millenium and I definitely see new leadership here! just take a look at AAPL, it is not leading.
One of the big leaders now is Biotech and that's why I was such a fan of CELG and BIIB. I played CELG because if was a cheaper priced stock but I was looking at BIIB when it was around 150 as a buy, oh well you will never hit them all.
Now that the first quarter is in, I am anxiously awaiting what we do in the second quarter though if we tapper off into much lower volume I am thinking the summer might be a nightmare but right now best to look at what is in front of us and that's the second quarter.
For though celebrating Easter please travel safely and think of not just yourselves but the poor, needy and helpless and try to volunteer sometime/something that will benefit someone beside oneself.
Update on Longs
Still hold CELG, TYL and DRQ.
CELG coiled and still looks like it wants high
TYL still looks higher
DRQ trading around entry.
CELG coiled and still looks like it wants high
TYL still looks higher
DRQ trading around entry.
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