No, not for Santa Claus, not for Jingle Balls, not for Honikah Harry. Nope, its time for the JANUARY EFFECT!
Did you guys notice that when Obama opened his mouth the market rallied? I have to say its uncanny, the guy is either going to live up to the hype or we're in for some really BIG trouble. This much hype surrounding one dude is never a good thing, that's a lot to live up to. I hope he can do it, but I have my doubts. The 3 month treasuries basically hit ZERO today. That's SICK. You giving the government your money for NOTHING in return. SHows the level of confidence people have that things are gonna be ok. Normally that wouldl be a contrarian indicator, but no shot it is here, there is very big time trouble brewing. Art Cashen said it today on CNBC, what do we do if there is a skirmish somewhere or we need money for something bigger than what's on the table? Where does it come from? That's why this policy of spending is INSANE. We are setting ourselves up for a major catastrophe beyond anyone's comprehension. It sucks, it doesn't have to be this way, but I guess it does since it is. How about the dude Governor in Illinois selling Obama's senate seat! Wowsa, talk about nutjobs! And, these are the people we elect. Not every elected official is like this, but unfortunately far many of them are. It's just so dang frustrating to listen to these people destroy the country from within. I guess this is one of those times in life where you need to take a deep breath and let it go, cause they really are screwing things up. 0% on treasuries! That's insane! The market definately looks bottomed near term, but my God, its gonna get ugly once we get past that inaugeration. Light a candle for us all, folks. Light two actually, we'll need all we can get!
I was thinking about putting in a bid for that senate seat that's up for sale in Chicago. Can someone place the bid for me? Guy didn't even want that much, just like a $250,000 job security once he was gone from Governor. I'd give him $500,000 cash to be the senator! That'd be awesome! Then I really could give my opinion, hehe!
OK, so market did what we thought it would do and pulled back. Hopefully we get some selling in the morning and then I think we can rebounce. We'll see, but it is setting up decently, knock on wood. Nothing is a sure thing, so we'll see. Funny thing is GOldman made a call today that said the same thing I've been saying. Plagarism is the most flattering form of love, or whatever that saying is! In chatroom today some moron tried to be an imposter! They tried to be Waxie! How come the internet is such a safe haven for idiots? Seriously, people have nothing better to do then pretend they are me? I'm not that important, except to my kids, dudes and dudesses, why don't you go make believe you are the Pope, or Clint Eastwood, or Harry Potter. Me? I'm flattered, but tell ya what, get some therapy is all I'll say. Internet turns donkey's into racehorses sometimes and whoever did it is a donkey for sure. In the meantime, it's the holiday season, so be happy! I'm spending a ton of time with my girls these days, it's a wonderful thing. I like racking up the big Ka-chingos, but honestly most of the time I get a much bigger kick out of being a daddy then I do making a couple 100K. Yeah, yeah, I know, I know, its easy to say that when you have money! Maybe so, but my life is a lot better the more time I spend with my girls, regardless of whether I make money or not. That's it for tonight, I'll leave ya with that. I think here we have to swing some stuff and see what pans out for the January Effects. I like one of the calls I made today a TON, I bought about 500 calls on it, which is a heavy position for me even. We'll see, but if I'm right it should pay off major! January Effects class is TOMORROW/WEDNESDAY and I'll see ya all there! If you still haven't signed up, what are ya waiting for? Waxie imposter? Hehe! Email - firstname.lastname@example.org and sign up NOW!
Michael "Waxie" Parness
Eeeeeeeeeeeee awwwwwww donkey out