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$VRX - Updated Chart

NYSE:VRX   VALEANT PHARMACEUTICALS INTL I
334 0 1
Congrats if you took the VRX             trades I posted and if you've been following me. This is set for liftoff. I want to be very careful with my weekly $30C's from .12 to take profits on the largest bounce, so time decay doesn't set in. With that said, I have some really aggressive targets, which can be achieved quickly.

$30 by end of week seems very plausible and much more. Bio's look ready to run and I'm seeing sector rotations coming. Strong dollar will crush the rest of the equity markets shortly, but I expect bio's to hold up.

I added two positions today, May20 $30C's @.12 and July $40C's at .75 right at the low. All indications point to an explosive launch. Dare I say, $35.57 is possible this week. I expect a parabolic move to $39.93 before major resistance and the 20VWMA.

Lastly, I can see another scenario providing weakness into open tomorrow, but we will see how it play out.

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