Cashin on Market: Hope is Not a Strategy -- you can keep it with you but don't depend on it!
Hoping for INCY to have a good EPS is not an investment recipe for success. Weakness from multinationals, Europe is a disaster ...and now the fiscal cliff -- sequestration. 1.5M workers to be laid off effective 1/2/2013 and the US government will defend all lawsuits for wrongful layoffs and termination. Unemployment to grow from 7% to 10% effectively near immediately.
Broke S&P support level -suspect another 10% drop....Gas to be under $3.00 /gallon by thanksgiving....broad based sell off in commodities mean INCY will have a tough time maintaining pricing on its pipeline of drugs. Discounts will soon be offered.