Sunday, February 17, 2008

BACK IN THE SADDLE

OK, I hate to sound like a cliche, but due to popular demand, I'm BADK!
I'll hopefully be able to keep up a daily blog here. Please feel free to comment. Though I'm often the only one talking to me, myself and I, its nice to once in a while have someone else in the universe to hear from.

This coming week should be very volatile. I think we're likely to stay in a range here. While I am longer term VERY VERY bearish, short and intermediate term I think we chop around and trade within ga range of let's say 11,400 to 12,800. I do think we should hit 13,000 on the DOW before we crash and burn so I'm not shorting with abandon - YET! I am putting together a new "Grinch" type list with 10 stocks that I believe will fall at least 50 - 75% in the next 12 - 18 months (probably sooner). While I am sure there will be oogles of money made on the LONG side, I think ultimately in 2008 being SHORT is where you will make the bulk of your money. Sorry I'm such a bummer, but I call it as I see it!
We're gearing up for the WORLD SERIES OF TRADING Las Vegas seminar March 9th to 20th. I urge you all to attend, period. Two weeks of live trading, while there is no guarentee of it, we've never had a Live trading seminar where most prople didn't completely kick butt and even cover the seminar costs PLUS a bundle! The last two seminars I made $121,000 in 2 days with a portfolio of roughly $75,000 in buying power and I made 40% on a $50,000 port in Sept. at our NJ seminar in two weeks of live trading. No joke, we rock live!
Meanwhile, around the globe, shocking as it is Clemens appears to have been caught with his hand in the lying cookie jar! They should strip the Yankees of the 2000 World Series, clearly my Mets would have won if all the Yanks we're abusing those things! Right? OK, maybe not, but still we should get it!

Whichever way we open Monday, if its decent gap up or down I suspec it'll make a very nice fade. We'll see. More later. Happy Presidents Day! Prepare to rock this week, I know I am!!!

RULE!

Michael "Waxie" Parness

9 comments:

Bob said...

Hey Wax,

Didn't know you had a blog going, nice.
I'm thinking that with tax refund season coming, and then the Pres printing up another 150 billion to give away, we should get a pop, or at least "maintain" till that money runs out. But later in the year?
ouch!
I think short term long, long term short/put is the deal.

AKSUNSHINE said...

HI WAXIE,

Great to hear your comments. I really treasure your inputs. Keep up the good works...

Jeanne Mancuso said...

Hi Waxie,

It is great to read your comments. It inspires me trade more effectively but I don't think everyone has the skills necessary.
I was wondering if you have any services geared to those of us that must maintain our day jobs. Is there any hope for us part-time traders?

Bill said...

Where ya been, Waxie?

Missed your blog, bro. Glad to see it's back. It's the best way for me to get your insights. Thanks for coming back. Keep rockin'!

wuffwuff said...

Hey Waxie. Thanks for the blog. Great to chat with you. Agree that 08 will be mostly a down year but am not bummed about it. I like to use SDS and QID (double beta ETFs) when the market is going down.

Do you like them too, or do you have an even better vehicle (besides shorting) to use in a down trending market?

Thanks for your response...

AP said...

Michael,

I'm one of those who are very glad that you decided to continue your blog and looking forward your posts and comments. Enjoy reading your books which I think are directly to the point, very easy to read and to understand.

Thanks again

canuckdummie said...

Hello Waxie, I bought the trendfund package three years ago, viewed a few times and but did squat as to implementing anything. Do you think you can bring your seminars to Canada (edmonton, calgary), I am sure there you got a huge following here, like myself.

Thanks,
Canuckdummie

canuckdummie said...

Hey Waxie! do you have any plans of coming to the great white north (Canada) if so, please post it on your blog.

Thanks,

Mario D'Agostino said...

waxie post your trades beforehand, not after the fact. If you post some of your trades in advance and they work then i might join your service, otherwise don't tell me how good you did w/o proving it before trading (like Rimm or Coin) I could blog the same too.