Hi Folks. I will have full video out tomorrow to go over tonight’s set ups with you. As for the performance last week in the market, the bullish camp was disappointed. We have been holding tight near all-time highs, so seeing stocks finish essentially flat this week, despite the strong jobs number, was a letdown. In addition, bulls were not all that thrilled seeing the S&P 500 finish below 2,100, nor were they all that pleased seeing the Dow close out the week below 18,000. It was a plus, however, to see the Nasdaq continue to hold above 5,000.
I think the success of the Nasdaq short term will depend a lot on what biotech does over the short term. Here are some thoughts on that.
Here are a few names I’m watching this week. These names as you know can be seen on the P&L tab on the blog.
CHRS– Buy the 25.85 level
CHRW– Buy the 65 level
XON Buy the 46.75 level.
