Monday, June 16, 2008


Well, market mixed it up Monday, with the tech heavy Nasdaq powering further ahead, and the DOW floundering a bit. The AGs once again led us higher, and the solar sector (our ENER, mentioned here AGAIN AND AGAIN his nearly $80!), and some big time techs like AAPL, RIMM, and BIDU powered ahead. The banks tried to get a big bounce, but it got sidelined and they got a small reprieve. All eyes are on GS Tuesday pre-market. I think good shot we get a pullin Tuesday. I ALMOST bought some puts at the close today, but would rather see what we do post GS. GS could very well beat and go much higher, which would send the banks and brokers higher. I will say that I do think the banks are going to get a bigger bounce shortly, maybe even Tuesday. Usually, as I mentioned here last week, heavily shorted and beaten down stocks get at least 2 or 3 days rally when they start to rally. The 1st day is usually the weakest, so if that follows through then watch that index for some more upside. In the meantime, the 1st day of the seminar was a SMASHING success as everyone but a couple said they made money and I am thinking tomorrow we'll knock 'em dead! We had V, POT, TITN all winners and all SWEET!

Missed a couple of trades I should have had, but hey, ya can't be perfect! Our ICO did nicely and hit our 1st target of $12.50 (amazing how good targets at resistence are!). GDP continued to plow higher as well.

I'm beat, so I'll keep it brief, if you haven't signed up for the chatroom, I suggest you do, as the summer winds through this market is going to have a TON of volatility and we are going to get some NASTY downturns, you may need all the help ya can get! We're here, baby, we're here - to help!

FYI - we have clients from all over the WORLD at the seminar! It's amazing to me, but every seminar we get people from around the world, literally! Our friend is here from France! Pretty freakin' cool if ya ask me! RULE!

See ya on the other side,

Michael "Waxie" Parness

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