EVIL HEDGE FUNDS!!!!

News flash, evil hedge funds wouldn't play ball with government! Wowsa, we are heading down a very dangerous path (yeah,I know, we already have). Is there such a thing as Liberal Conservatism? It's quite amazing, it reminds me of that Star Trek episode where the Star Fleet guy is sent down to observe and he gets involved and they end up moving toward an ultra conservative nation. (I won't mention the name because I can't compare most anything to that period of time). I understand the move toward socialism. I mean, whether you agree or not, that's what we voted for as a country. Obama didn't hide his leanings. However, this constant ripping of anything capitalistic is absurd, and will backfire. Hedge Funds aren't evil (well, most of them aren't). Most hedge funds are just trying to find good deals just like everyone else who invests. Just because the government wants to put Chrysler into bankruptcy (it's ironic because Chrysler should have been buried 30 years ago but the govt intervened to save them, bad history does indeed repeat itself) doesn't mean that INVESTORS should buckle and lose money. If that's the case then why does the government keep manipulating the market to drive it higher artificially? Is there justice in GS being $130 a share but no one says a word about them stealing $18 BILLION from taxpayers? Or JPM being $33 a share despite abusing their powers and taking advantage of the government knuckleheads who spearheaded these forced deals?

How come Jamie Diamond is allowed to make millions and millions or Lyold Blankstein, or a dozen other HEDGE FUNDS masquarading as public companies? Please, give me a break with the hypocresy already. What a joke this whole thing is. A total total joke. They play high and mighty and just use black mail tactics to force their will on whatever and whomever they want. I'm very disturbed about the policy shifts we have in this country, and I don't mean from a party standpoint. As far as I'm concerned they are both knuckleheads. They all are. They have no clue about what they are doing and every two seconds they say the whole system is on the verge of crumbling and yet the market powers higher and higher, its pretty funny when you think about it. I stated yesterday that the GAPS were rocking and today while we held up well initially we eventually went nicely red, a 150+ point reversal off the open. WE had a VERY nice day, caught PCLN and FAZ (sweet) and we sold our calls - DIS, PRU, ATVI, etc. for huge gains, so I'm very happy. I had a very nice day as well.

Friday if we gap UP its a total gimme as far as I am concerned, just fade it and collect at the window, its a done deal. I suspect we'll get more of a flat open which is much tougher to play. A gap down should be fadeable, though I'd be less confident for anything more than a gap fill or so. Market is vastly overbought, that doesn't mean we can't go up a lot more, we may, but we are anemic volume wise to the buy side and that indicates that momentum may be switching sides. May 4th is a big day and I think we'll get a very nice trade early next week into the stress tests. So, BE PATIENT here, no need to rush a thing. Just pick your spots and you can ROCK!

I'll talk about next week over the weekend. Oh, for those of you Beta Testing the TREND CRUSHER software, please respond to Michael HOnig, we need some feedback on the product that we are rolling out VERY soon! its - boogedyshu@aol.com, Michael HOnig.

BTW, I don't have Swine Flu, just run down a bit apparently, so that's good. In the meantime, Friday we may chop around a lot, remember - DO NOT OVERTRADE!

RULE!

Michael "Waxie" Parness