Tuesday, May 13, 2008

It's OE (Options Exp. week), do you know where your profits are?!!!

OK, little folks, its time to remember why it is that you read my blog, why it is that you even bother to pay any attention to me. Do you remember why?

Because I AM MASTER OF THE MARKET and I know what the hey I am speaking about, babies.

Now, here is it, here it is in plain English.

#1 - did ya all catch that little ENER comet? Wheeeee, it never stops going and going and going and goingggggg!

Yes, I still think it has room to run, but, and this leads into the next topic and one that I will cover EXTENSIVELY in the 3-day Options Workshop YOU need to attend starting tomorrow!

Email me; waxie@trendfund.com and I will get ya signed up in timeeeee!

ENER has a TON of upside, I think, but this is OE and that means that they will likely PIN ACTION (read former blogs from OE last month for some more info, or better yet TAKE THE WORKSHOP!)

Pin action from here on out will define the rest of the week. It should get interesting because a lot of the momentum stocks are pinned right now around strike prices -


We'll be watching for which way they want to lean us. If we get a clue it could really lead to big ka-chingos thursday and friday. That's what I'm checking out.

One tiny one I like here is ICO. They may pin $10 but on the next up move in the coal sector that thing looks poised to see a lot higher. Of course, if coal gets smacked it'll retrace to $7s more than likely, but if it can get some momentum over $10 it should see $15 pretty easily. Remember that a rally drags the tiny ones up last usually, the ones with the least fundemental base. That's usually the last leg of a rally which culminates with a blowoff top day where everything goes up and crazy at once. We haven't had that yet, but I am seeing some irrational buying on momentum stocks now. Watch SOL which reports tomorrow before the open to see how it responds to earnings. YGE should follow its lead after they report. Not a sure thing, but could be a nice tell. The market usually works that way.

In the meantime, I am brain fizzled from searching for apartments. How nuts is this? I was all set to move downtown, NYC. Found an awesome pad, nicer then my mansion over here. BUT, the NYC school system doesn't have any room for new kindergarden kids, which is why I was moving in the first place! And, call the city and what do they tell you? They ain't got no freakin' clue. Man o man alive, I tell ya, the amount of idiocy is mind boggling and mind bending. How do you have a city like NY, which I love love love and yet no one thought to build more schools cause they were too busy building (and giving tax incentives) condos that NO ONE is buying now. Who would buy a condo in this market? You gotta be nuts. Give me 2 years, I'm picking up the pieces, trust me there will be just that - pieces! But, in the meantime, my 5 year old don't have a dang school to go to! Unreal. rrrrrrggggggggggggggggggggggg!

So much for zen, hehe, ah, how quickly it can go returning to da cityyyyy!

BTW, my film, which some clients have seen at various festivals around the country, is playing in NYC end of May for 4 showings. Looks like May 30th and 31st. If you are interested in attending email me at waxie@trendfund.com and I'll give you the details. It's in NYC, so if you live in CA I'd love to have ya, but you can pick up the film at Blockbuster in June!

The film is titled Crazy for Love and it has a great cast. Well worth your viewing time and you can come meet me.

Let's rock this town, folks, let's rock!

*OPTIONS SEMINAR STARTS TOMORROW AT 10 am!!! We have about 50 people so far attending, it's gonna rock!


Michael "Waxie" Parness

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