Friday, April 25, 2008


I said a few weeks ago that although I am definately BEARISH longer term, that I felt that we could get a nice rally now and see the Highs of the Year so far. Well, we are just about there after today, I think about 300 or so points away from such. We should get there, perhaps next week with the FOMC on Tuesday. The consensus is the Fed cuts another 25 bp. I'm not so sure. I think the Fed now is interested in strengthening the dollar and to do that they need to stop making cuts. They could cut 25 bp and say no more, or they could pause now and the dollar will fly short term. I think there's a good shot they do not cut at all. I may short the Euro Monday and have a tight stop into the FOMC so that I can't get hurt if they do cut. I think the risk/reward is good because if they don't cut then the dollar should FLY!

Now, back to the regular markets - they are really buying up the financials here in a counter trend move. That's great, we are smoking all around, the Options Trader service I do is just INSANE. I'm going to tally the last couple weeks next week and post it here if I can, but its really just crushing the markets here. We had another and another and another double this week. Don't hold me to it, but I think I called about 5 100+% winners in the last week or so. Maybe more, its pretty scary! If you played them, congrats, you are simply SMOKIN' CRACKKKKKKKKKKK!

OK, so we have a bunch of people who want to know about the 3-Day ALL OPTIONS min-seminar. Here is potentially the details, I'll send out an email over the weekend to confirm either way, but here are the details, if you are interested in being part of what I think is going to be a spectacular event, then email me directly at -

In this market I think playing Options gives you the best leverage to maximize your profits if you use proper money management. Things are moving fast and furious and in huge chunks and that means leveraging your account with options allows you to play even the highest priced stocks.

This week some of the trades we had (I'm trying to remember them all so it doesn't seem biased as though I am only listing the winners, we did have a loser or two as well, fyi) -

FXI calls = went more than a double (100%+) in two days
SOV puts = went almost a TRIPLE (200%) in two days
V calls = went at least a double here now (100%+) in a few days. We sold 1/2 at the open today near the days peak!
WY calls (called yesterday) = went about 50% in a day so far!
AXP calls sold for a breakeven or very small loss intraday yesterday before earnings
TEX calls sold for small profit or break even intraday before earnings
CMP calls sold for a double plus (100%+) in about a week
YHOO calls still in and down on *Today added the $25 puts to now have a strangle on into the news this weekend*
SOHU calls TODAY went roughly 25% intraday ($6.70 to $8.60) and we sold them at the close. Bought around 11 am, sold end of day near the top!

Now, there's no guarantees in life or trading, but we have been crushing the options market, and next week there are some SERIOUS trades to make. During earnings season stocks move violently both ways, that's the best possible scenario for playing options sucessfully.

Below is the information on the 3-Day Options seminar, I suggest you take advantage of this opportunity. Either way I suggest you sign up immediately for the Options Trader service. I've been calling a TON of options plays and as stated the calls are pretty stout, to say the least!

If you wish to sign up for either one, please email me at -
or go to the site yourself and you can sign up for Options Trader service. Please note that the price will increase on MAY 1st. So, you need to sign up now to be grandfathered into the current price (we'll be sending out a 3 and 6 month offer and an annual membership offer).


Cost is $595 for non-members, $495 for members.

Class will encompass the following;

Every signup will get the Intro to Options DVD and the Advanced Options DVD and the Playing Trends with Options DVD (if that exists)

Day 1 = Intro to options, options strategies and setting up an account to trade

Intermediate Options, options strategies for the short term trader, the medium term trader, and the swing trader

Advanced Options including credit spreads, The "Greeks" and protecting your investments using options

Day 2 = LIVE Q & A session relating to the days trading as it happens. What trades would make good options plays, what wouldn't. Setting up a watchlist of stocks to potential trade with options for day traders, short term/intermediate term traders and swing traders/investors

Day 3 = LIVE TRADING DAY ALL DAY = 8:00 am until 5 pm
with Michael "Waxie" Parness in an exclusive "Trading Room"

They can pay for this and for the NJ seminar and total is $2495.00
Over a $250 savings!

I strongly urge you guys and gals to sign up for these seminars. This market is a great trading market, and I suggest you take advantage of it NOW!

OK, now that I have spent a ton of time selling you on the idea of trading OPTIONS, let's suffice to say that I still think being cash rich here and trading shorter term is the way to be. This rally has some legs and I stick to my call as stated above about us seeing the Highs of the Year more than likely short term. The best thing is, they will overshoot to the upside, they always do and it'll set us up to trade them down for a bit, and then up, and then down, etc. That's what they call TRADING, babies, that's what they call Trading!

RULE and have a GREAT weekend! I'm moving in early May so if I don't post here it's cause I'm dealing with a lot to get everything together the next 3 weeks. I'm sure many of you can relate, it ain't easy moving with 2 little girls and one big boy (me!).

See ya on the other side,

Michael "Waxie" Parness

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