Saturday, March 22, 2008


OK, for the first time in a long while, I am pretty BULLISH on the week ahead. I can see us getting a pretty sizable move here near term. In fact, I could see us over YEARLY highs in the near future before we turn back down again and get a pretty massive selloff.

So, I am looking to get long early this week on some beaten down piglets. I think some of the tech names should get a bounce. You'll have to become members on SOME level to get the best candidates, sorry. My clients pay good money for real picks and it would be unfair to just lay them here for freebies. I will say that if we do get a decent bounce and you're in the right stocks this could be a VERY nice time to rack up some huge gains. The best thing is, even if that's the wrong call we can take small loss and reverse.

I want to mention that our WORLD SERIES OF TRADING Las Vegas seminar ROCKED! Thank you all who attended! We had a great time and it was so great to meet you all. It wasn't so nice waking up at 4:30 am to trade, and that took its toll, but it was awesome and it was even better that I made nearly 200% on my account trading LIVE with you all!

WOWSA! 200% in 2 weeks ain't too shabby! We're planning a NEW seminar in NJ shortly. It'll be a one week seminar that is limited to 35 people and fee will be $1995 with a GUARANTEE you make money trading during the seminar or you'll get $1000 back immediately! If you have an interest in this special offer, please email me @ and I'll send you the details, but first 35 to sign up get it and that's that.

We're also going to start offering FOREX, if you are interested in FOREX please email me as well @ We have some special offers and I LOVE FOREX! It's open 24/7 and you can open an account with $400! It also gives you 100 X's buying power, which is attractive. We are setting up a special offer with a recommended brokerage firm to handle it, and we're doing free classes and a book/dvd offer for those who sign up and open an account.

In the meantime, look for market gains this week. Ultimately I stick to the call that the market is going down HUGE this year regardless. But, as we know, nothing goes in a straight line and so this week let's rock to the upside!

Please do post your comments, it gives me incentive to keep the blog up to date. I hate talking to myself, so speak out!

Go market - GOOOOOOO!!!! Look for a respite in the selling unless we get some really bad news. If we don't we could see DOW 13,500 in the next couple/three weeks. I hope so, cause that'll keep the volatility high and the ranges large!

Just the way we love it! This is the best trading market I have EVER seen outside 1999/2000. It's SCARY good! To be able to nearly triple my account in 2 weeks is INSANE, but thats the beauty of this market and why if you are on the sidelines, you need to get in the game!


See ya on the other side,

Michael "Waxie" Parness


Richard Milford said...

I look forward your information on the FOREX trading

How low do you think the US Dollar will go pretty scary

chuckmurphy said...

Waxie used to be a Trendfund member i mess up some how. You and Tiny are the best so were rereading the book bought trading to win update so maybe I can see where I mess up. Love reading the blog, about the forex the dollar is history the fed are killing it have u or tiny heard of the Amero?

TraderDT said...

Hi. I'm a newbie with respect to currency trading. I'm very fascinated with the Forex market and want to learn more about it. Currency brokers whom i've spoken with says that trading 'options' on currency futures is the superior way to go vs. trading currency pairs on the 'spot' market....cuz it's regulated,more leverage,etc... What do i know. Can someone enlightened me on this matter - ie..which is better currency futures or Forex and why?

Waxie said...

Keep the comments coming!

FOREX, email me at and I'll send you an update and instructions later this week, promise.

I prefer Forex to the futures for several reasons, but it's a tad late to get into it. Suffice to say it's "truer" I think, its also incredibly easy to trade and the leverage is intense at 100 to 1.
Having said that, these things are usually a matter of taste as opposed to one being truly being that much better than the other.

Let's see what shakes out. BUt, do email rather than leave the message here cause if you email me I will get back to you shortly!

RULE no matter what!


Jeanne Mancuso said...

I have a bad case of trader envy. :)