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!!!
Michael "Waxie" Parness