Unfortunately, I was not at my post Friday, getting my tri weekly serving of triple hemlock, so I am still in ARVN, and hoping for another excursion above $5. Looks as if the top of the last gap is holding with change after two attempts by the bear to take out $4.90. If the third attempt hold, we could have that run well above $5.
As for the market, due to the rare triple high in all the three dow averages, I am raising my yearly target on the dow to the max I had since April 2000, namely 13500, for this year. Targets for naz stay as mentioned late last year. Very short term, we are within 25 to 35 naz points from my intermediate target at 2550/60, thus positioning few strategic shorts would not be too risky, as a matter of fact two OA on GILD and GELG caught Friday, the former a bop of GILD at $82.80, and the latter a bop of CELG at $60.80, both not too far from the highs, but I would not be surprised if CELG runs another two buck plus and GILD another triple bucker from here, so ready with additional bops there if they get that far. Last, finally redeployed one QID serving here at $49.65, second will be deployed around $47.5 if it gets there. My AMD bop from before the earnings is still red, but I think there is a good chance that if private equity gets involved, they will want their pound of flesh, in single digit....
