I will tell you one thing - AMZN and BIDU are NOT on the TOP TEN TECH short list! Why? Well, AMZN makes too much sense as a play on high oil to me. More people stay at home and order online through a place like AMZN rather than drive out to pick stuff up live. Will that hold up long term? Well, AMZN is vastly overpriced, but for the reason above it could see higher before lower. I wouldn't be surprised if it gets to $85 today. Closed afterhours trading at $76s. I'm not calling it, just saying that they blew out and in this market blowing out is a HUGE sigh of relief and shorts get clobbered.
BIDU is still a growing mini-GOOG and relatively "cheap" though when it gaps up $40 today more than likely its certainly not "cheap" to most value investors. What investors and funds don't look at much is reality. AMZN is $76 after hours. MAYBE they will earn $1.50 this year - MAYBE. So, at $75 they are trading at 50 X's this years earnings. That's absurd in any market thats reality driven, but right now if a stock beats, it squeezes. So, best to stand clear of earnings and let other's guess.
We recalled SKF today at $111 and sold some at $122ish, for better than a $10 gain in about an hour or so. I think financials MIGHT have one more push up and then we should start to back and fill. Tech will at least start off very strong due to AMZN and BIDU, and from there we'll see.
Watch the action early on in some financials, the cool thing is they are trading in WICKED large ranges, which means you can trade them now intraday. That's a very good thing because I find that these types of stocks are more predictable in terms of support and resistence. FNM is having a really hard time holding over $15, thats something to watch if it gaps up again tomorrow/today. Might be worth a short, if it can't hold $15 it should head back toward $12, and then $10 and then...we'll see.
I think the market here is "ok" so I don't see the rush to short everything in sight. In fact, we went long some stuff today for gains, and we shorted GS for better than $2 and RIMM for about $1.50. But, in the end the market ended higher and you need to respect that and not buck the TREND. What we do long term is meaningless, its short term that means ALL!
See ya tomorrow in my TOP TEN TECH SHORTS class!
RULE
Waxie
8 comments:
Waxman,
Could you please post where I can see actual documentation of your turning $33k into $7 million in 2 years? Certainly there MUST be audited documents posted since you base your service on this very fact.
I've been trading all my life and have made substantial money doing so and quite honestly, starting with only $33k one would have to go "all in" on just about every trade, use options exclusively, especially in the beginning and be correct at a percentage that boggles the immagination.
Show me the money and I'll consider joining your service.
Much Appreciated.
Let me assure you beerguy that what Waxie has posted the past month is 100% true. I've been a member of his service for a couple of years and he's making the calls week-in & week-out. Yesterday, we bought SKF aroung 111-112--sold half today at 125, riding the rest for now with a $2 stop.--With my 400 shares, I banked 2.5k already and am sitting with a 3.6k gain on the other half. Made a ton off of GOOG last week, and AAPL puts this week on earnings. Sure, sometimes he misses, but he gives you stops so your losses are no big deal compared to the recent wins. I'd recommend his service highly.
Beerguy,
Just from the math alone, if you start with $33K it turns into $7M in only 30 weeks if you hit 20% per week, on average, and you're "all in" every week. No options necessary. Counting the misses, this was done in 104 weeks according to Waxie's ad. Very aggressive, for sure, but there are guys doing it in trending markets. Waxie isn't alone. Always room to learn more!!
all i can say is I made today in 13 min 564.00 on short TRA.
beerguy, go to E+Trade and go to the High Flyers board. Also, go to our website and go to the media section, there are many clips from CNN FN, they OKed my financials, they wouldn't run the piece until their legal checked it all out. I've been looked at by everyone.
I used to post all that stuff whenever questioned, I don't do it anymore, I don't need to. My clients have done well over the years. If they didn't I wouldn't be around.
My clients do well, they stay, they don't, they leave, its just like every other business. And, I'm not licensed or registered, all we do is offer ideas about the market, its up to everyone to do their own DD.
And, fyi, I didn't trade options on most stuff for a while. I traded a lot of gaps, and if you have done it for a while then you will recall that you could short JNPR or CMRC (no longer around) and they'd go often $50 one way or the other in a matter of minutes sometimes. Trading 100 shares or 200 shares of CMGI or QCOM into a split would net ya $100 points often.
If you go to the High Flyers board you can look at all my postings. I think someone there did an "audit" themselves and said that I was right on over 90% of all my calls up til that point. I used to try to post every trade I made if I recall. I was so good that E*Trade/Clearstation hired me and paid me to work for them. They even gave me a free cool computer hook up. They wanted me to run a website for them like Trendfund.com and wanted to pay me some meager amount. I declined and started this.
Let's be real, dude, you are only interested in one thing, and it's not in my service. You're interested in proving you are right, and I am wrong.
Keep your money, we don't need you as a client, but thanks for asking. I've had more heckling than I know what to do with. I'm too old and too tired to prove anything.
If you have done so well, you don't need me anyway.
At this point you've posted several self serving things. I don't read your blog, you don't need to read mine if you don't want, no one is forcing you.
Thanks for your interest, though.
Best,
Waxie
RULE!
Waxie,
I'm glad the beer guy asked that question but maybe for a different motive. I have no doubts that you turned $33,000 into 7 million. I just want to know how the hell you did it. I'll be checking into the E trade board. As my investment plan is working so far this month, I'm going to be fighting the homeless man up the street for his cup. It's difficult to make consistent money in the stock market. (for me anyways) I'd like to copy the techniques you used. (Emulation is the most sincere form of flattery)
By the way, you may be tired but you're not old. You're a spring chicken...give it a few years. :)
jeanne,
you like stocks too much to trade, thats the issue. :) Don't love 'em, trade 'em and make them suffer! Make them eat your garbage! THEN, me lady, you will fly high and make da cashola! :)
When you finally tell me "I HATE APPLE!"
Then, I will know you are ready, Grasshopper!
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