Bloody Friday

Man, last Friday was a bloodbath. A lot of stocks which gained big last quarter, like INTC and YHOO, missed this quarter, creating panic on the street. I'm sooo thankful I cashed out those QQQQ calls last week before INTC reported. Also, for some reason crude is trading up to the $70 Katrina highs. Not sure what's going on in the middle east, but the charts don't lie.

The $VIX also spiked big time on Friday. When volatility goes up, it's a sign that investors are getting nervous.

The $NASI has also turned down (after turning up just a few days ago). This back and forth motion is making me crazy. Why can't we just trend strongly in one direction so that we can all make some easy money?!

Friday was also the first time I ever witnessed weakness in GOOG. I'm not sure what's going on over there either. I don't think the DOJ case is really that big of a deal. And I'd be surprised if GOOG is getting hammered in sympathy from YHOO's miss because investors know that GOOG rocked wallstreet last quarter (while YHOO also missed last quarter).

I don't like what's going on in the markets, and right now my watchlist has been narrowed down to only ELN. I'm hearing in the rumor mill that a decision on Tysabri's sBLA may be reached early '06. I can't believe it's already almost a year since Tysabri was pulled. Like I've said before, when it comes to ELN, don't listen to Forbes, don't listen to the analysts, goto the Tixx website instead!

If you're like me and will be on the sidelines for tomorrow, check out this dude who's eBaying off a piece of Enron history to pay for his daughter's tuition. I'm also playing with Pandora right now, an awesome way to browse for new music.