Tuesday, January 06, 2009

pthegreat said...
Hi Waxie, just a quick thank you note, and a Happy NY to you, your family, and the TF crew. I started actively trading using your service, in the 2nd half of 08, with just $5K. I just ran a profit/loss report today and guess what?; $51,714.87 in the green! It has helped me to overcome some personal problems, and I am just estatic to start the new year. so keep up the fabulous work, it's been appreciated very much.


There ya go, thanks Peter for your great success! We are ROCKIN'! It's time for YOU to start rockin', too!

Todays choppy action just further drove home the fact this is indeed a January Effect rally as the stocks on our radar and the laggards all jumped sharply, but the overall market had a lackluster performance.

Technically. For us, january effect lasts through thursday but again its somewhat nullified as the employment #s are due friday and my thought is they will sell us into that. Let's look toward some more choppiness tomorrow. Seems unlikely we get huge moves either way, but shorts are definately and foolishly taking a beating, another leg up and we may just get to that 10,000 level yet! Short squeezes are very intense and tend to feed off each tick higher. Stay the course...

I got a comment here today asking about GS. Apparently they are short GS. Why, I have no idea, guess they didn't read the blog or the many emails stating I am not short any of the short list stocks at the moment. I'm always frustrated when people only see and hear what they want. But, all we can do is lead the horse to water, we can't make them cover the short!

I had a couple of other thoughts (it happens once in a while).
Why did the judge set only a 10 mil bond for bernie madoff? The guy admitted he ripped off 50 bil, so basically the judge let the guy bail himself out using stolen money, so he could then rip them off more by selling jewelry that was bought with stolen money! I don't get it at all sometimes.

I've never actually met the family, but my heart goes out to the Travolta's, there is no bigger fear for any parent I know than to outlive their children. Money and fame are always rendered meaningless when you deal with some tragedies. And, who cares if he is a Scientologist? Does it really matter? People love to judge everyone else, remember, when you point one finger, three point back at ya!

Man, tell ya, today was tough for me, I have this killer pinched nerve in my freakin' neck and I had to get this big butt needle in my neck. I love it when the doctor says that it'll only be a "pinch". That's the code word for "IT WILL MAKE A GROWN MAN CRY!" And, thats what I did, I'm not too proud to say that. Wasn't one of those cry like a baby man cries, but tears did flow! You see, Waxie is human after all! Hehe.

Oouch, still killing me. Oh, well, new day today, and hopefully better. At least, knock on wood, have started the year with a bang, 3 for 3 winning days! And, that was with having to spend the day getting PINCHED!

Be careful not to chop your accounts up, folks. When you get the chop slop its often the toughest to trade and a good way to make your broker happy, but make you very upset and a LOSER!

See ya on the other side,

Michael "Waxie" Parness

3 comments:

Mike said...

Hi Waxie :)

Happy New Year to you, your family and the TF staff. I have been closely following your postings here and I find them to be truly excellent and very informative..I particularly liked your contribution to the New Year's Eve FOX News - Cavuto show... congratulations on all the great work through the years.

I have two quick questions for you please:

1- Isn't 9625 the last high on the DOW back on November 4th 2008? If DOW is to hit 10,000 short / medium term wouldn't that reverse the down trend and be considered bullish from a TA point of view ?

2- What is your opinion now on First Solar FSLR? I remember you once predicted something like $30 as a target. Do you still see that happening and within what time frame?

Thank you and all the best,

Mike

beach2788 said...

Back to S&P 500, Here is why:
The news is just becoming to overwheliming to be ignored, no longer heresay, the news lately is factual econonmic downturn turn.
We already had a good rally.
On the Tiny T/A side, S&P could not hold over the 50day MA, and rolled over. I think we go back down the support trading range 850, possibly low 800s. Anyone who made good money already, from the rally from 800 up 940 is going to cash out, they do not want lose it.
The Alcoa news bad, real bad. Intel no help on the tech side.
I say "Hang 10 dudes" and ride Tiny's 5th Elliot Wave down down... imagine Tiny on a surfboard, that would be a cool photo.

beth said...

Want to thank Trendfund and wish all of everyone a Happy, Healthy and Prosperous New Year. Rejoined TF after several years of not trading - wasn't disciplined enough. Was in the Chatroom when it was free - long long ago. From mid October to 31 December, thanks to Trendfund, my account is up $61,706. (Started with $115,000) Considered it self defense after two professional (supposedly) money managers lost over $200,000 of my hard earned money. One of them lost all the profit they had made plus half the principle. Thanks again to all