Two days into 2009 from a trading perspective and two winning days! Knock on wood, 2009 should be a very nice year for us indeed!
My new book, RULE YOUR FREAKIN' RETIREMENT also got it's first review and it is VERY SWEET! I've posted it at the end of this for ya'll to read! Please order an advance copy if you can off Amazon, its for sale there and you lock in the great price! Sure to be a classic!
In the meantime the market was pretty choppy and sloppy today. The financials can't get out of their own way (rightfully so) and the market was pretty much down all day except for attempting a rally midday. In spite of that most if not all of the January Effects stocks ROCKED! That's when you know you are playing the market right, when the market is moving against your positions, but you still rock da house.
The power of the TREND. I did say that this years January Effect list would be one of the best EVER, and lo and behold the move we've gotten has been one of the best ever. You gotta believe!
In the meantime, Wednesday should be interesting. We lightened up a lot today on the list as the trend is winding down. Last thing I want to do is give back the huge gains we have, so we took a bunch off. We may get another push, I doubt we go down very far, but ya never know, we are overbought here and the banks and REITS look like hell, so maybe we get a washout a bit. Also, talk now is that the stimulus package Obama wants may not get passed til at least March. That could take some luster away. Add in fact that Friday we get employment #s and I think good shot we not going anywhere to the upside here. Still think we get pockets of strength, like we had today, with the small ones lagging and then catching up (like our ALD!).
This is such a great run, folks, its time for ya to join up and give it a shot. If not, suit yourself, we'll keep rocking anyway!
I'm beat, going to bed early tonight, below find the review. Enjoy!
Michael "Waxie" Parness
Rule Your Freakin’ Retirement: How to Retire Rich by Actively Managing Your Assets Michael Parness. St. Martin’s, $25.95 (272p) ISBN 978-0-312-37515-1
Parness (Rule the Freakin’ Markets) shows readers how to take control of retirement and the years leading up to it. Full of practical suggestions, this book highlights numerous aggressive but simple and safe strategies to actively manage retirement resources. The author focuses on the fundamentals so that readers will be able to understand mutual fund reports and stock charts and know how to digest the information they contain. He divides his advice into three sections: assessing one’s current financial situation, mastering the tools and making the most of assets. Each section includes charts and quizzes to help explain concepts and test understanding. Scattered throughout are “Waxie’s” tips: short, helpful nuggets that provide advice on a variety of topics. Parness also includes several profiles of individuals at various stages of life and financial responsibility and offers practical advice for approaching their retirement savings. A handy glossary section serves as a useful reference tool for the less initiated. Free of jargon and easy-to-understand, this book will be of interest to everyone hoping to regain control over their retirement future, especially with the current market volatility. (Mar.)