Acorn Wealth begins to keep watch of Epocrates(Nasdaq:EPOC), Peregrine Pharma. Inc(Nasdaq PHM) and Athenahealth Inc(Nasdaq:ATHN)

NEW YORK, January 7, 2013 (MESHPRESS) –Reality appears to be setting in as the markets continue to lag with fears that the U.S. government could exhaust its ability to meet all its financial obligations as early as Feb. 15.  We discussed this last week and knew that the resolution of the Fiscal Cliff did very little to improve the underlying issues surrounding U.S. debt      The DOW Jones closed down by nearly 51 points while the S&P 500 finished down only slightly at 1,461.89.

Obviously, the debt ceiling is going to be raised as the U.S. is not going to default. However the battle will get down to the sequester and the refusal of the Obama Administration to make any significant cuts in spending. If the market senses that the U.S Federal deficit is spinning out of control, it will change everything. And until this issue is settled, we believe that we will remain locked in the trading range of 1400 to 1475 on the S&P 500. This will set up numerous trading opportunities and although we still remain cautious, this market will continue to present many excellent trading opportunities.

Shareholders of Peregrine Pharmaceuticals Inc (PPHM) were given a gift this morning when the company provided an updated review of its Phase II trial of bavituximab in second-line non-small cell lung cancer in 121 patients.  Peregrine’s share price has experienced significant turmoil since reporting major discrepancies in the studies of bavituximab back in September 2012.  At that time shares fell from $4.23 and have hit as low as $0.65 since.  With this updated review seeming to discredit the previous damaging report shares of Peregrine Pharmaceuticals closed up 80% to $2.43 on way above average volume.  Peregrine seems to be a very easily manipulated stock so for further details on how to trade Peregrine and recognize its levels of strength and resistance; Click here to register for our trading boot camp http://acornwealthcorp.com/trader.html?p=sl63...=MSTnow-yh

Shares of Epocrates Inc (EPOC) traded up 21% following the announcement that Athenahealth Inc(ATHN), the provider of tech services for the health care industry, agreed to acquire the company for $293 million in cash.  This works out to $11.75 a share, a 22% premium above Friday’s closing price.  Epocrates, Inc. provides subscriptions for mobile drug reference tools and electronic health records to healthcare professionals, and interactive services to the healthcare industry.  Epocrates says that its service is used by more than 330,000 physicians in the U.S.

The deal was also seen as a positive move for Athenahealth helping move the share price up more than 2% to close at $77.99.  The company’s reputation as a trusted mobile provider for the industry was a primary reason for the deal, Athenahealth President Jonathan Bush said in the company’s release.

“No other company has been able to replicate the brand awareness, familiarity and trust that Epocrates has across the clinical mobile user base,” he said. “We are confident we can provide Epocrates with the stewardship and resources it needs to grow and develop within health care and that Epocrates’ capabilities are going to mesh exceptionally well with athenahealth’s cloud-based physician and patient services.”

In our trading boot camp we will give you the tools and show you the exact strategy of how to profit in any market. What’s important is knowing before you make a trade the levels of support and resistance and how they could affect the trade.

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It is important to remember that all of the thoughts and commentary discussed here and throughout all our forums are simply reflections of our own personal technical approach to the market and should not be constituted as financial advice. About Acorn Wealth Corp: Acorn Wealth Corp. is an educational company specializing in education surrounding the trading of publicly listed securities. Acorn Wealth Corp. is not a licensed securities dealer in any jurisdiction. This information presented is for educational purposes only and does not constitute an offering of securities, and should not be relied upon for making your investment decisions. The information presented herein was obtained from sources believed to be reliable but is not guaranteed, is not conclusive, and should not be relied upon as the sole source of information/opinion for making an investment decision. Investing in publicly traded securities is highly risky and the securities and strategies discussed herein are not guaranteed or insured, and their value may change due to economic factors and market trends. The information contained in this commentary is not meant to constitute legal, investment, or tax advice. Acorn Wealth Corporation does not offer investment, legal, investment, or tax advice. Past returns and successes displayed herein do not guarantee future results. Contacts: Acorn Wealth Corp Email: info@acornwealthcorp.com