Tuesday, June 10, 2008

The brokers breaking down and I'm sitting in a storm...

Man, I tell ya, living on the 45th floor sometimes sucks. When your windows are shakin' and your earth is quaking, its not pretty. And that brings me to the market, which is really looking dismal. They tried to rally us a lot today and they failed a lot. Just a very sloppy choppy day, which are the hardest to trade. I have to say, its a good thing we stopped out of CORN and actually made money on that trade if you followed the suggestions. That's why ya use stops! Commodities are just busting out every day here. Thing is, they will correct, but I'm the first to tell ya that its pretty legit. FOOD is necessary. OIL is necessary (or a necessary evil). Metals are necessary. Stocks? They ain't necessary, sorry. You need commodities to LIVE. The DOW could go t zero, and it won't kill anyone in and of itself. People may jump out windows, which would obviously suck, but no one can be killed by a falling market. And, that my friends is the #1 reason why if you are going to trade you need to keep your eyes open and your head in the game! Thing is, at some pt commodities will break from the stocks. See, stocks can go down even if the commodity it deals in goes up. It doesn't work the other way around. We have a ton of good stuff going on and about to happen. We're rolling out some very cool initiatives, including our second Small Cap Monster newsletter July 1st, and Forex and new software. Stay tuned and if you haven't signed up for the NJ Live week long seminar with the partial Money Back Guarantee if the trades we call don't make money, you are gonna regret it! This is the time you NEED TO LEARN TO EARN! Don't sit back and think you'll do it later, it may be too late later!

Email me at - waxie@trendfund.com if you want some more info on the seminar, there is still time but since it starts SUNDAY (yes, this Sunday!) you need to get in the game NOW!

See ya there, and see ya on the other side. Ya see LEH? CRACKED CITY. When its under $15 let me know, thats where I think its headed pretty easily. In the meantime, we should get a more decisive move Wednesday. We look lower here, but I guess something could bounce us. Probably a squeeze, but we'll see soon enough. Hopefully we get some bounces, would suck if we just went straight DOWNNNNNNNN! Unless you're short like us! RULE! Michael "WAXIE" Parness

2 comments:

Ming said...

Hi Waxie,

I am a member of your service. Thanks very much for your great work and for sharing your thought.

I have a question regarding to the current down trend. Normally, JPY would rise sharply against USD when risks start to increase. But this time it is different. USD just made a three month high against JPY yesterday. Could you give out any reason?

Thanks
Ming

Waxie said...

Ming,

yes, because the Fed has made it clear they are no long cutting rates, and in fact should start to raise them (they have no clue what they are doing, other than printing money) the USD has firmed up. Unfortunately in the long term it won't last, but for now I would probably wait for better entries to short the dollar, or go long the Yen. I still love the Yuan against all other currencies and think it's got tremendous upside. Thanks for your loyalty!