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.

CELG- New Highs

CELG still coiling like wants higher still

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.

Goldman Cautious

Goldman Sachs is saying they are newly bearish over the short term.
Be cautious on any longs, we are basically going up on very light volume.

Sticky spot here

Very tricky here- Market looks like it is forming a topping pattern but you can't help be reminded of the quarter end markup the fund managers will place-
This is a time to be patient

New Highs

Best chance for the S&P this week to reach it all times high this week or early April. End of month mark up will likely push the market up this week even with all the negative news coming out of Europe.
I have a couple longs on and they are from Names most won't know but this is what is happening on this leg up, we are establishing new leaders, which is a good bullish sign.

Nasdaq is looking really sloppy and in some way it looks like it is forming a huge H&S pattern so that will have be on the caution side when we hit the S&P highs.

Don't push anything here---------Remember 4 day trading week this week

TYL-

Poked this one long too- @58- 56 is my stop.

DRQ

Poking a bit here long for a small play- @86

GOLD

GOLD needs to break $1630 through on this push up or it will signal a topping here-

Weakness

We are about to open for the weak and we are looking weak- Copper is down 2.5% and the S&P was down as much as 20+ points overnight-

Watching my SDS here at open if enough Profits I will take it off- was a small play

New Trend??

He has taken a big hit since the mortgage crisis bet he won huge on !!

http://www.bloomberg.com/news/2013-03-11/paulson-said-to-explore-puerto-rico-as-home-with-low-tax.html

CELG Update

Well that one was a home run- still making new highs it hit $113 today.

In the meantime the calls are now up almost 200%

SDS

Playing some SDS $45 calls here as a flyer- @$1.35

not huge play

New Week

start of a new week and though we are over extended on the upside I am still banking on seeing new highs on the S&P. Traders don't car about the DOW because it is not a true reflection of the market so I am expecting the S&P to hit the new highs soon.
After that i would be looking at any exhaustive moves as a blow off top to spot some shorts but in the meantime I am long some CELG and ALTR here and nothing more in terms of stocks.

Folks we careful as the market is always trying to take from the 90% to distribute to the 10% so don't get caught up in what the 90% are saying but use that as a signal for caution.

Also watching AAPL to see if we make new lows after last week lows.

CELG

CELG Kicking butt- still holding here

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