Now what?

I am very torn here, but I feel like we still see 1150 area on S & P before we take any real big downturns, if then. I'm not holding much of anything, so just looking for good entries and opps regardless. Very interesting market here, everything says we should go down, even sentiment to a large extent, and yet we continue to defy gravity. Yes, we were down Friday off the putrid job #s, but down 20 points after being down over 100 when those #s were G-d awful is a pretty big victory for the Bullish camp. Still liking CRM into (not through) those August 19th earnings and would look for an entry on RIG long as I think it can see higher. I don't own any now, but if it dips back down to $50ish I'll probably poke it long. In the meantime, I do own (50) CRM calls and will see what shakes out.

In the meantime, big shoutout to my oldest daughter Joelle who made her acting/singing debut last night and I must say that life is pretty amazing when you watch your youngest daughter ask your oldest for her autograph!

I mean, how much better does it get then that? It's also great when you can block out all the rubbish and BS in the world and in each of our lives and focus on the task at hand. I did this when I was younger and studying some Eastern spiritual principals, just not watch the news or read the paper for a month and you realize how lucky you are. So much to be grateful for. It's a good thing to keep that first and foremost, front and center, the noise is just that - noise and it'll wait.

Wanted to update for those that have donated and hopefully those that will donate to the Haiti project. It's been a total B*t*h getting any help from the local government so we reached out to Sean Penn's people and it looks like there's some movement. I'm very hopeful that the school will be under construction shortly. It's such a mess down there and such chaos. Again, it's pretty cool living the way we do here. I can't imagine how devastating it must be to go through some of the things people around the globe have to put up with at times (or sometimes all the time).

Life is very good indeed.

Off to see night #2 of the best performance in the world going on tonight (yes, I'm a tad biased). My youngest needs to collect a few more autographs from the rest of the cast so we gotta stay.

In the meantime, keep rockin' and let's see what shakes, I'll be on vacation and completely out of commish (and the country) for about 3 weeks to refresh and reload and relax. Yes, that's 3 R's and not 2. Whilst away I plan on being completely cash and not trading. In fact, where we're going for part of it I'm told there's little or no internet baby. So...if I don't get back to ya, it just means I ain't gettin' the message.

I'll be back early September and will catch ya all on the other side...

Keep rulin' and Scott will be here, along with the rest of the gang. If you need to reach someone, feel free to email Scott@trendfund.com, or Ilene@trendfund.com and they will be happy to help.

Thanks for all the early Bday wishes, I'd love to be celebrating my 30th, but that happened a while ago, so I'll settle for #47.

Rock and RULE!

See ya on the other side -

Michael "Waxie" Parness
waxie@trendfund.com

*If you are interested in donating ANYTHING for the Haiti project, please email; yaffa_holmes@gmail.com and she'll give you info on where to send check or make a wire. YES, 100000000000% of all monies goes directly to charity always. The Trend Fund Foundation is a 501C-3 and has donated a ton of money to various children's causes. I'm very proud of the causes we've supported and beleive that giving is selfish because spiritually you'll get back a whole lot more anyway. Rock on and anything you can give is appreciated it. The 501C-3 makes all donations 100% deductible and we're now able to accept credit card donations. Thanks!

Jobs,jobs,jobs...

The jobs # tommorrow is all that matters now, babies. I posted on my Facebook page (Michael "Waxie" Parness please join) that I have a sneaky suspicion the #s are going to come out better then expected, maybe much better. Having said that, I obviously have as much info as everyone else. Just seems that with the elections upcoming it will be very good for the sitting party to be able to say we're in a stable recovery, hang in there everyone. Whether that's true, and I hope it is, is besides the point, but the market has rallied very hard to get where we are, even after a couple down days we're still right at the breakout to 1150 or new yearly highs even point if we get a sense that things are actually REALLY getting better.

It should be very interesting then to see what the # is, and then see market reaction. It's impossible to "play" as anything is a guess at this point but if I had to lean, I'd lean LONG and STRONG for sure...

Meanwhile, move should be dynamic and violent either way unless #s come in exactly where they are projected to be, then we should get an initial move and then I suspect a pretty flat bias.

Keep in mind we typically have a positive bias into the FOMC meeting anyway, and thats next week, so again I'd have to lean long, BUT it's a crapshoot til, well,,,til it's not...

Keep rockin' and rollin', more great stuff comin' soon. We're opening the Forex site shortly, and please keep those emails coming to; ilene@trendfund.com to get your FREE 1st newsletter.

Rock and roll, rock and roll...

Michael "Waxie" Parness

FREE FOREX NEWSLETTER

We're ready to roll out our new FOREX service. If you wish to receive our 1st Newsletter that will introduce our new service, it should be ready to be emailed out in about 10 days.

Please email; ilene@trendfund.com and get put on our email list, the newsletter is 100% free, no credit card necessary, no fuss, no muss.

Over the years we've had a mass amount of clients interested in learning more about trading FOREX (Currency markets) and it's time for us to offer it to you.

So, with that in mind, Scott Littlefield and I are working on our 1st issue of the newsletter.

Just email; ilene@trendfund.com and get on our list for the FREE 1st issue. All we need is a valid email address, your name, address and phone #. No credit card necessary. The idea is to give you an introduction to FOREX and to what we plan on doing from a traders perspective.

Thanks and as always, we look forward to rolling out the BEST service of all FOREX services out there.

Rock on...and RULE!

Michael "Waxie" Parness
waxie@trendfund.com

Market continues to plow higher...Workshop in Florida Monday...

Wall of worry is being climbed over at this point. S & P now above 1125, that 1150 market is looking tasty. Interesting split market as Banks and Home Builders continue to lag badly and yet Tech and select issues just plow higher and higher.

Earnings runners still rocking, and if you are picking your spots you are doing pretty darn good. You're doing even better if you had PCLN over earnings (we didn't, fyi - though wish we did!).

DNDN looks higher, this stock reminds me a lot of the former IMCL in that it would dip on "bad" news and then rocket higher and higher until it got bought out. My suspicion is that DNDN gets taken out so I think it has to be on your radar both ways. I own 50 calls on it currently, had 25 into today and added 25 today, for full disclosure sake. So, yes, I did indeed have a very nice day...

I'm doing a "1 on 1" intensive 1 day workshop this coming Monday in West Palm Beach Florida. If you are interested in more info email me and I'll get you details. Email me; waxie@trendfund.com

Let's keep plowing ahead, life is freakin' beautiful babies and it's all GRAND! We're moving ahead on all cylinders and so is the market. Gotta love the summer, I sure do.

Heading out to free some Butterflies with my beutiful daughter. Who'd a thought that a soon-to-be 47 year old 6'4" dude from Queens would be freeing Buttleflies and sharing about it when I was growing up? Not I. And, hence the beauty of life.

We're releasing some soon to be finished DVD's that are brand new shortly, stay tuned. 2010 is turning into a GREAT YEAR, rock on...

RULE

Michael "Waxie" Parness

Sometimes its better to be lucky then good...

It's easier for me to post on Facebook, so I post there more often, if you wish to follow me just join my fan page it's listed under; Michael "Waxie" Parness

Today was a total chop fest, but the market until it breaks below that recent breakout of about 1110 area is trading like it wants to go higher. We'll see, tomorrow should be a pivot day. FOMC coming up next week, so I suspect we'll chop around and stay around where we are, with an upside top around 1150 on the S & P and downside risk to about 1100, though again more then likely we'll hold that 1110 area unless news that sucks comes down the pike. So, I'd stick to buying the dip.

Today we also got very lucky. I had called CTSH few days ago for a run into earnings and we were up on it, but I had it listed as reporting earnings TODAY AFTER the close so I got a bunch of people thanking me for the play. It's nice to get lucky once in a while. The calls I think went about 200+% and I woke up and was up a nice little ka-chingo, but for the record, I rarely hold over earnings and the general rule is to sell before earnings, which was the plan.

Trading isn't a perfect system and neither is luck, I've had that happen the other way a few times in my career as well. But, its nice when you catch a little luck going your way.

A couple months ago we had DNDN calls and they went BONKERS for us, a HUGE gainer (I think it was about 500% but don't hold me to it) and the FDA approval came early and gave us a lot of the gains. I think we were up about 100% going into that, but much of the gains came after. I remember last year getting cracked on a trade involving a little company, CHTP when the same thing happened, but it went against us. That's why we try to trade using good money management skills and not try to rely too much on "news" events.

I wanted to bring it up because the "norm" plan wise is to not take that trade through earnings, it just so happens that the earnings date was wrongly posted on the calendar.

In the meantime, watch CRM for a run into earnings on the 19th, thats one I own some calls on (25 of them) and think the trend should be higher into earnings. I'm a buye ron pullbacks. I think we entered around $97 and its $101, but regardless if we pull in thats one to keep an eye on.

On August 13th we have a VERY special guest doing a class with us. Stay tuned for more details, but we are making some amazing partnerships and there are soon to be some very major announcements. If you are interested in the class its from 8:30 am EST to 11:00 am EST on Friday, August 13th...stay tuned...email me; waxie@trendfund.com

Rock on...

Michael "Waxie" Parness

Earnings Season...

AA started off the 2nd quarter earnings with a beat which "shocked" the street. That's because expectations have been so low that there are so many shorts leaning on the dang stock.

Having said that, it seems unlikely that AA will close much higher then where it was after hours, which was about $11.25, and I wouldn't be shocked to see the stock close red, or close to it.

The market is foward looking and AA and other stocks in that sector have been beat to death (or at least senseless) because of an anticipated worldwide slowdown. China amongst the biggest "alleged" culprit.

The stock futures gapped pretty stoutly after hours and looked headed a lot higher, with Booyahhead proclaiming "its time to get bullish".

Well, as I write this the futures are gapping down about 3 points so the key here will not be whether stocks beat estimates, because that's pretty much a given. The key therefore is how stocks hold up AFTER they beat. Does anyone believe that buying stocks here is the right move? I don't, but I'm not an investor and I don't fool that easy, I hope. And, I don't count, so really, are investors going to take this earnings season seriously enough to jump in, or do they wait for better entry points.

I think we should be looking day to day at stocks that have earnings upcoming in a hit and run trading plan. I am long INTC the last two days, and GE and GOOG and AAPL as well (AAPL a bit longer) and am up on all those positions (they are all options) but I've lightened up on the up moves as I don't want to be the last one holding the bag. I do think GOOG can see $500 into earnings Thursday, but we'll see soon enough. Watch next week earnings for clues to potential movers. I have a couple I'm giving to clients tomorrow after I see how the market reacts to the earnings beat by AA. I think we do get a further extension higher and should see 1100 S & P, but I'm not strong on that opinion at the moment.

That's the beauty of life and the market, everyone has an opinion, but the market is gonna do what it's got to do and we just try to hitch a ride...


See ya on the other side...RULE

Michael "waxie" Parness

Another SWEET day...

I LOVE THIS MARKET...knock on wood (always supersticious) this is a GREAT trading market, the TRENDS are really lining up and we are KILLIN' it...GAP FADE once again worked to perfection as we gapped down very nicely and then rushed higher and then late day rolled over again. Very interesting trading. Caught BP long off the open near $30 and bought a bunch of calls, sold most near the top. Very happy indeed. CSIQ off yesterday's call also did well most of the day til the breakdown. AAPL continues to play ahead, nothing apparently can stop it from assaulting what looks to be $275 area.

With Options Expiration coming up Friday it'll be interesting to see what level they pick to pin. Most expect 1100 to be where we get pinned, which leads me to think we'll do either 1090 (guess 1080 possible with a bigger drawdown but doesn't seem likely) or 1110 or 1120/1125 more likely in my view. I still have to lean long, there just aren't very many sellers unless news strikes and it just doesn't pay to buck the TREND of the market. Natural Gas pulled in a bit, but still looks much MUCH higher to me longer term. I sold my contracts last night near the $5.20 mark if I recall and traded some below $5.00 for that pop back above it. That late day drawdown definately hurt my day a bit, but still a rockin' day nonetheless. I'll take it anytime, baby.

OK, so let's watch where they try to pin us from here Friday on what stock. PIN ACTION is a VERY VERY strong trend and we need to respect it. That IPO tomorrow is interesting to me, I am going to do some research on it tonight and see if it makes sense to trade the dang thing.

On another note, I should have some full audited financials finally to showcase so stay tuned if you are interested.

I have more confidence in my trading right now then I've had in a very long time. I think this market is PRIME trader mode and I think YOU have to take advantage of that while it lasts...

If you're interested in a free trial, or finding out more, email me directly with your thoughts and the heading TRIAL and I will hook you up. In the meantime, more later for all, keep rockin'...


RULE

Michael "Waxie" Parness

EMAIL: waxie@trendfund.com

Rockin'...and we should be good to go, baring news...

Stick to the plan, dudes and dudesses and that is BUY THE DIPS, let the rest RIPS...or something like that.

I'm now clearly and cleanly in the overall BULLISH camp, though headline risk is very clear and dangerous, so buyer beware...but overall we should be buying dips here until proven wrong on that call. The market wants to run into this quarters earnings, at least for now. Of course, a couple bad earnings and we could be headed again down, but I get the feeling we ain't tanking so fast.

A gap down Wednesday should be buyable, at lesat for a trade, and energy still looks good here, with $75 support on Oil and my Natural Gas appearing to want to go a lot higher short and long term. If it can hold above $5 it should make its assault on $6...we shall see soon enough, I have some small cap Nat Gas stocks I'm looking at, if I'm ready to discuss you'll know where to find me...

In meantime, if anyone is interested in potentially partnering with me in a new infomercial idea (non-stock related), please email me - waxie@trendfund.com
I think its kick butt. Also, if you have an infomercial idea you'd like to discuss please email me same and we'll see what shakes. All ideas are strictly confidential.

Rock and RULE!!! We are SMOKIN' this market, folks, get on board the train!

www.trendfund.com

See ya on the other side,

Michael "Waxie" Parness

New week, not same old, same old of recent market activity...perhaps

We're almost a sure thing to see 1100s here on the S & P, the Euro should continue to bounce, with some headline risk, and Natural Gas remains my favorite play by far. Tech looks solid here for a potentially explosive move HIGHER baring bad headline risk that would jeopordize. Yes, if anything I am bullish near term. Tough to be overly bullish or bearish with all the headlines out there, but I think pullbacks are buyable until further notice and breakouts are certainly playable and should remain so. We'll see soon enough...watch housing purchase #s post-tax break. If those #s are not absolutely abysmal we should get a very nice rally. If they are, well, then potential fly in the soup...Office space should be open shortly, if you have an interest to come to NYC and study live with myself and Scott please email me directly; waxie@trendfund.com

Also, remember to take your 2-week trial to www.trendfund.com


www.trendfund.com for a free 2-week trial

*make sure you read terms and conditions obviously before signing up for anything.


More this week for sure, headed off to dreamland, watch 1100, folks, once we hit it it'll be interesting to see if it stops us, or if I am right and we are buyable here...

RULE

See ya on the other side,

Michael "Waxie" Parness

Link to FREE newsletter*

Sorry, I seem to have posted the link wrong, here is the correct link! Newsletter is online NOW!

https://www.trendfund.com/store/index.cfm?action=item&item_id=92


*Please make sure you cancel if you aren't interested in continuing so you don't get billed inappropriately. This issue with my take on DOW 5000 and Natural Gas $10 is pretty dramatic I believe, so its well worth the read, but just wanted to make that clear. Rock on!!!

Trade LIVE with Waxie and Scott...

Do you want to trade LIVE with Waxie and Scott nearly every day? We're looking to find 10 to 15 traders who want to trade LIVE in our soon to be new office. If you are interested please email me at; waxie@trendfund.com
Fees to be negotiated based on response, the more people interested, the less the fees. This is a unique opportunity to trade LIVE with us, have access to us all day. Email me; waxie@trendfund.com

Slots will be extremely limited, it's NYC and there's only so much room we can get that will work.

Michael "Waxie" Parness
917-549-7727

Link to FREE Newsletter...

Ilene asked me to post the link to the newsletter as she has gotten almost 200 emails so far and is a bit overwhelmed. Keep in mind that if you are a Ninja or Black Belt member already, you get it as part of your subscription and there's no need to do anything, you can access it EVERY month already.

For all others who want the FREE newsletter, please click the link below, Ilene will get back to all those that already emailed as she can, but if you can please just click the link yourself and wha-la, instant access! Make sure its the JUNE newsletter when you get there, that's the one you should receive. Rock on...


https://www.trendfund.com/store/index.cfm?action=items&item_id=92

Enjoy,

Waxie

Few Updates for the Week Ahead and BEYOND...

#1)Happy Memorial Day to all those that have served our great country...thank you for the great deeds you have done.

#2)Wanted to just say that I hope Dennis Hopper truly rests in peace. I've known Dennis for several years now since he optioned the 1st script I ever wrote (Random Acts of Kindness). Dennis was not only a legend and one of the most prolific people I've ever met (and yes, he was also eccentric and eclectic in many ways) but I found him to be a decent man who was passionate about what he believed in and in the transformative power of the arts. He was also funny, vibrant and had the ability to laugh at himself and his zaniness. I found Dennis to be very bright and opinionated, but open to discussion. Frankly, I liked and respected him and I know he felt the same about me. I have two very funny stories relating to Dennis, one of which shows me to be a big buffoon in that when I first met him I asked him what his then 7 or 8 year old boys name was, and what his older (she looked 18 or 19 at the time) daughters name was. It wasn't his daughter, it was his wife. Yes, that is indeed Hollywood. The second story I keep to myself, and for live appearances. Bottom line, I wish Dennis' friends and family the best, he will be missed.

#3)For all those that have requested a copy of the free newsletter, Ilene has been bombarded with requests, so please be patient, she will get back to everyone with links on where to sign up to get this months newsletter, which I believe is gonna be Kick-butt! If you want to get it, please email - ilene@trendfund.com

#4)I'm working on (2)NEW programs on changing one's life (more details soon). One is for Children and the way Children are taught in this country. There's more, and I'll detail it shortly...too many children in this country (and others) get "labelled" and fed medication as though its candy. I'm not remotely against medication when needed (or labels, per se), not in the least, however, there isn't enough of a followup program, and there aren't enough alternatives. I've been sought out by a some very prominent people who I'm now working with on this major and I believe groundbreaking endeavor. Some of the stories from the children who have taken these programs are simply astounding, and I think once we show the world the power of these methods it will have a profound impact on the lives of many. They have done work with children from every age, from kids suffering from Downs Syndrome, to Autism, to perfectly normal kids and exceptionally talented kids who simply want to excel beyond what is currently available. If you are interested in learning more, send me an email with the heading; KID SMART and I will file you for when we are ready to release more details.

The second project - if you are interested in making over your entire life stay tuned, the groundwork is being laid for potentially the biggest movement of our lifetime...and several very high powered people look to already be on board. If you or someone you know is struggling in life and need a boost and want to be considered for a "makeover" please send me your story, your resume and why you feel the need to make changes. Also, if you could describe as concisely as possible what has stood in your way of making the changes you've wanted to make, and if you can put your finger on it - what it is you want to do were you able to get rid of your blocks.

I'm making major changes in my life and will be documenting these changes as things move along. I said that in 2010 I would BREAK OUT and baby I am breakin'! Bottom line is - if you're not happy, lets figure out how to get you there and the program I'm developing with several others I believe will do just that. This is not just about money - though success in any areas of your life, if the program succeeds, should be abundant. The idea is simply this - we are all born with a destiny and somewhere along the way many of us get lost and have to re-find it. This program will potentially show you how. If you are interested, please put in your heading - DESTINY

Stay tuned - you can email me on either, with the proper heading; waxie@trendfund.com

More later on these both, probably later this week. Right now I'm working in my free time to develop these, take meetings and cultivate ideas with world leaders in the areas of expertise that are necessary. If you feel you have something you want to lend expertise wise about any of these things, feel free to also drop me a line.

Please note I won't be replying more then likely for a little while until things are further along, but I'm shaping my life to fit my dreams. Most of my clients know that trading has always been something I just "fell" into. It's not remotely my life, though I enjoy teaching and interacting and helping others. My life's work has always been about that and at some point in the not too distant future I'll be working with traders in a very different way, and running a much different business model. We've had a phenomenal response to people who want to learn to become Professional Traders and frankly that's my focus at this point, working with people in ways that truly help them move their lives as a trader, or now with the new initiatives hopefully in a greater capacity. If you are interested in learning if you qualify to become a Professional Trader, please email me with the heading; Pro- Trader

I've gotten back to my charity work, and am very happy to say that the Board of Education in New York has been great and embracing of the new program we are unleasing in public schools here shortly. And, the Haiti Project looks very close to getting UN approval for a plot of land on which to build the best and biggest new school (and maybe ever) for children. This work has always been something I feel blessed I am able to help with through my 501C-3 The Trend Fund Foundation. Also, the Foundation is now able to take Credit Cards for donations and ALL donations are tax deductible. If you can give a little (or a lot) please email me with the heading: DONATION and we'll get you the info you need to donate to these worthy causes. The school program I hope in the future to expand nationwide, and my next charitable project I would like to build a school in this country in a destitute place that is in need of one. If you have a recommendation, email me that as well.

Now, as far as the market, this week should be very interesting and should stick with the news driven movements we've seen. I want to make it clear, I am NOT calling DOW 5000 this week (or month), same as I'm not calling DOW 15,000 same. I'm a trader, thats what I do and what I teach, so we TRADE the market as it comes. I got a couple of correspondences that I found amusing, someone asked me what they can do to profit from DOW 5000 THIS WEEK, and someone here as a putdown said "last time you called GS to $20!" What's funny about that, and not to toot my own horn, though I will, is that when I made the GS $20 call the stock if I recall was around $150. GS went to about $50.00, so it was down roughly $100 from my call. Yet somehow that was a horrible prediction because GS never made it all the way to $20. Now, I would argue that in real money terms it probably did, and certainly GS in my opinion (and others) would no longer exist if the government didn't intervene on the day GS was cratering in a death spiral, same as LEH and BSC had done before that and same as MS was surely when it went to about $5 at the same time.

Regardless, missed prediction noted, and while I do believe we have a very good shot at divebombing, more then likely it'll happen, if it happens, later in the year, not this week precisely. That's why we TRADE stocks, and I'm not in the perma-bear prediction camp. Read the newsletter (and get your FREE one NOW!) by emailing; ilene@trendfund.com

I will be giving the date of the TOP 10 DOW 5000 ideas this week, no need to email on that just yet. Pricing will be about what it was last time I think, but we'll see. I may offer it (2) ways, one cheaper then the other (a lot cheaper). Either way, many of these plays I will be playing myself more then likely, though as always there will certainly be FULL disclosure.

Lots more coming up, it's amazing what you can do when you are truly ready to let go of the past and move forward. Some people get stuck in negative feedback loops and never break free. They are miserable and want everyone else to be miserable with them. This week should be a sweet trading week, lets see if we can nail it.

If anyone has any questions or observations (or complaints) about anything, you can always feel free to email me at; waxie@trendfund.com

I'm at your service, as always.

Keep rockin' and keep rulin'! And, don't believe the negativity, and a lot of people who are miserable looking to bring ya down (hence the phrase "misery loves company" - there's a lot of it in the world and the key to success is, and why it's the first thing I teach to traders is POSITIVE THINKING. There's a reason that the cliche "Be the ball" came into being, it mocks the same thing as fighters often talk about in terms of visualizing knocking out their opponents before a fight. As a trader, and in my new program I'll expand on this even more, we need to "be the trade" and KNOW that every trade we put on WILL BE A WINNER!

Of course not every one will turn out to be one, but when we put it on we need to believe it will be.

Tomorrow or Wednesday I'll be laying out the FREE classes we're going to teach next. I'm hoping to have 3 or 4 FREE classes in June that all can attend.

RULE!

See ya on the other side,

Michael "Waxie" Parness
waxie@trendfund.com

DOW 5000?

This month's NEWSLETTER will be ready to download shortly, in this month's newsletter I present the case for DOW 5000. Last time I made that call, I was wrong, we only dropped about 5000 points to 6600, never getting to 5000. However, I map out the case for why this time we could actually hit 5000!

Also, I make the BULLISH case for Natural Gas and provide some Stock and Option suggestions to play if you agree.

So, for your FREE newsletter, email; ilene@trendfund.com and check it out for FREE.

We'll also be doing a new TOP 10 SHORTS list soon, stay tuned for details. Last list we did was INSANE, with I believe 100% winners, some of them HUGE beyond belief! This list might do even better!

Email; ILENE@trendfund.com for your FREE Newsletter and stay tuned for the TOP 10 SHORTS list, coming soon!


More on the coming list week shortly. It's gonna be a bumpy humpy ride folks and I think the key here is CASH IS KING, if this week taught us nothing else, this market is PSYCHO and day to day is very very tough to predict. One day we are down 200, the next we are up 200, the next we are down 150.

That's pretty insane behavior and very dangerous if we take sides too heavily. I'm torn here, I think DOWN is the path of least resistence, but we're still bouncing on news and light volume, so CASH is the rule here, not the exception. We'll see how it pans out.

Ultimately, and unfortunately, I think we are headed a LOT lower and I want us to be prepared for that, if I am right. It's funny, I got an email from someone here saying "you were wrong about GOOG and AAPL". In the meantime, GOOG has dropped off a cliff and can't get out of its own way, and AAPL went all the way down to $230s on my call. So, yeah, I was wrong. Remember, we are TRADERS, don't get stuck in investor mode here, I think you will be very sorry if you do. I will say, I was definately wrong about market direction Friday and it cost me. I was doing Marketcast class and was LONG when the Spain news hit, so that was a big pre-holiday weekend Oouchie as my kids used to say. No one said it was gonna be easy...

RULE

See ya on the other side

Have a GREAT Memorial Day Weekend -

Michael "Waxie" Parness

It's just another day in the Bear neighborhood...

Couldn't muster any type of real push higher with market fades working like a charm here. Doesn't always work that way, but it certainly is here last few days...
Only thing that's gonna move us up momentum wise here is NEWS out of Europe, otherwise my Dollar/Euro PAR call from beginning of year by end of this year will be good as gold a lot quicker then even that.

2nd time's a charm and a hold below 10,000 on the next pass down should lead us to 9500 in fairly short order. Again, only thing stopping the fall should be news. Right now the news isn't good unfortunately.

AAPL $250 level is tough, everytime it knocks on that door, the door slams shut. Tech really rolled over, ka-powsa.

Check out my Marketcast classes for a FREE 2-week trial email; ilene@trendfund.com and we'll get you hooked up. Twice a week I give my insights in real time about the market day, and what I'm looking at. We've been doing pretty darn well, this market has been doing all the "right" things lately, let's hope it keeps up the good work. Trading is never a sure thing but there are periods when the market is easier then other times and at least this second that seems to be the case. Of course, as I write that I should knock on wood since I'm supersticious and the market powers that be may smote my account for saying that...

Not much to report, lets keep fading and look forward to a LONG holiday weekend, the weather here is SWEET!

Rock on, and RULE

Waxie

VERY nice day...

And that's why we play da TRENDSSSSSS, cause they are your FRIENDSSSSSS!!!

Sweet day, between today and Friday that's proof positive that it only takes a couple of days a month to make your "nut". Swing for singles, you will get your Home Runs, trust me.

In the meantime, tomorrow I would be shocked if the early part of the day at least wasn't UP. I was out or I'd have held the OIH (nice call, to say the least) I had. As it is the S June $4 calls we got around .40 cents are now worth $1.35, that's not a bad return in less then a week. Closed out of all the short stuff and thinking that until we now hold below 10,000 I'll just be mostly cash and trade it as it comes. Still thinking DOWN is the path of least resistence longer term, but when you get reversals like we had today they have to be respected.

Just a reminder, we'll be sending out a survey shortly, please take the time to fill it out, its the only way we can keep ya happy...other then trying to give ya some nice sweet winning ideas...

RULE

Michael "Waxie" Parness

Market wrap(ed) up, and Options Blitz roundup!

Market is about to get a test of its mettle in a big way. As I write this we are gapping down HUGE again. 1050 on the S & P and then 1025 and then the dreaded, but probably certain 1000 upcoming. We shall see, perhaps Turnaround Tuesday is in the works...I'm certainly gonna try to poke the gap down if it sticks cause thats what a dude's gotta do.

Just want to thank all those that participated in the OPTIONS BLITZ we just had. And, wanted to thank Coastal for letting us use their office for the day.

I think it was a big success and I love doing events where I get to meet our clients. Very sweet indeed.

Market is on crutches here, shoulda taken AAPL puts home with me, but didn't and will survive, it hit the magical $250 mark but thought I'd get another chance Tuesday, and maybe I will, though not from the looks of it here. We're in trouble, folks and the pigeon's come home to roost.

We'll be sending a survey out later this week, please take the time to answer it, TONS of new initiatives that I'm very excited about, including a brand new infomercial on "destiny" that I'll have more details on shortly. Rockin', life is mighty sweet, despite the markets woes.

Make sure you do not try to catch falling knives for more then a trade here, until proven otherwise the sentiment has indeed changed as noted...

RULE!

See ya on the other side,

Michael "Waxie" Parness

The Upcoming Week and beyond...

Friday was a beautiful day, we grabbed a few sweet winners off the open, with the market severely oversold and the gap down being right at the May 6th lows, plus the market being down 5%+ into a Friday, just such a perfect storm for a buy the open gap down. Was highly unlikely in my experience that we'd not get a heavy bouce.

Those are the days that can make your year, or at least your month. So, those are the day we have to take advantage of, they don't come around all the time.

This week I'm sorta bullish early in the week as I said in my last post, though it's more like neutral/bullish because I don't think we go very far even if that's correct. I think risk is still to the downside. I think we have to see the other side of 10,000, its pretty much a foregone conclusion, the only question is - do we get there mid-week this week, or do we get there after a few days or a week or so?

One thing I am definately clear about is - we will see the other side of 10,000 shortly.

In the meantime, I'd like to see a nice fat Gap Down Monday as I think for at least a bounce to green it'll make a nice trade on no news. A Gap Up is trickier since I lean long anyway. Watch levels on some of the tech titans; AAPL $250, GOOG $500, BIDU (recent highs)PCLN $200...

Financials showed very good relative strength and GS was very strong on rumors that they may settle. Something like that would trigger heavy buying in the stock and financials more then likely, at least short term.

I'm working on several new initiatives, one is a Makeover concept related to kids initially that I will be asking for volunteers for. I'll be giving more details shortly but its super exciting and has some big name talent attached if it goes. Friday got some amazing news and so it appears to be a "go". Love when that happens.

Tomorrow early am we have our LIVE Options Trading Day, still time to sign up, email ilene@trendfund.com and she'll get you signed right up. There will be another FREE class shortly as well, stay tuned for more details this week.

More later...see ya on the other side


Waxie

LIVE Options Trading Day Monday!

Seminar been sweet so far, tomorrow is LIVE Options Trading Day if you wish to sign up please email; ilene@trendfund.com


Rockin' and sockin'!!!

RULE and thanks to all who have attended, we have a couple of people flying in and coming in tomorrow to meet me. It's nice to be loveddddddddddddd.

Will be expanding the Blog this week I hope, lots to talk about and will be looking for people to do a "Destiny Makeover" for a new concept I'm working on.

Market this week looks set up for a chop slop, with early week potentially having some decent upside, followed by choppy trading. Not sure if we can go much past 10,500 to 10,700 and still longer term look a lot lower to me, but I have some good ideas I think that I'm pretty high on.

More later, back to class!

RULE

Rock on.

Waxie

OPTIONS BLITZ this weekend! Sign up NOW!

Email me; waxie@trendfund.com

3-Day workshop PLUS Monday we'll be doing a LIVE all-day ALL-Options trading day with myself and Scott!

Sign up NOW!

waxie@trendfund.com

RULE!

Today = rockin'!

Tic Toc...

The clock is ticking to the next bounce AND the clock is ticking til we really roll over. The psychology of this market has clearly changed and rallies are now shortable until proven otherwise.

When we were going straight up one of the best tells was the Options market. Calls were being bought on stocks well beyond the normal volume they might otherwise have, and those stocks were rocking. Well, we have the exact opposite now, stocks are getting huge put buying and then following the "smart" Option money down. I gave the idea (and played) MSFT puts based on this and the stock dropped to a low of $27s today, making the puts almost a double in a day - again. Of course, we also had GMCR into the split, the calls, which was a yuk-foo. SRS, FAZ, tho, have more then made up for that doggie.

It used to be that the Options market often worked as a contrarian indicator and was often used that way, now the market almost acts are a fulfillment center for the buyers of these puts and calls. Either way, its important to keep an eye on the Options market for an overall view, and for individual stocks (btw, I sold ALL my MSFT puts today early on that push down but may reenter shortly on a bounce).

Today was interesting, I was only around for part of the day cause I unknowingly got a TIC (hence the blog title) on my thigh. What's interesting about that, at least to me, relates back to trading, and perhaps some about life. I'm a city dude. I love the outdoors, hiking, biking with my girls, kayaking, etc. But, ultimately I'm a city dude born and bred. I was upstate outdoors this last weekend and I did some of those things, and this a m when I was showering I noticed this "thing" which I mistook for a plastic knob or something stuck and protruding from my leg, and dumbly just pulled it out. When I went to the doctor later cause my leg was killin' me she of course knew immediately and I was like "duh" of course. How could I not know?

Well, cause I've never had a tic, and often times in life you need education, and experience in order to identify patterns that you can then hopefully emulate and translate into success.

I'm developing a program along these lines that I'll be talking a lot about that won't just be trading oriented, in fact it'll mostly not be. It'll be about fulfilling your destiny and how to do so.

In grade school the cliche was "there's never a dumb question". Well, I disagree, over the years I've been asked a TON of dumb questions. I've asked my own in my life. So? The cliche shouldn't be that, it should be "there's never a question that can't enlighten". Or, something like that. My life is about living dreams and helping clients hopefully succeed so they can live theirs. Today I got a few emails thanking me/us for what we do. I always appreciate that, truly.

So, thank you. As far as the market and trading, just cause you don't know there's a tic, doesn't mean you can't learn. If you can identify what you are lacking in education wise, then that's a very good first step to success.

I get in trouble as a trader, or life, if I don't listen to the signs, and the signs right now say LOWER overall. We will bounce shortly, but I think you have to listen to the signs pointing lower overall for the time being.

Speaking of education - This weekend we're doing the OPTIONS BLITZ, a 3-day ALL OPTIONS - ALL THE TIME OPTIONS webinar, including 1-day of LIVE trading with ME and Scott. There's still time to sign up. Please email me and/or ilene; waxie@trendfund.com or ilene@trendfund.com and let's see if we can rock the options world. I believe this will be the BEST Options seminar we've ever done. I'm excited and the class should be rockin'.

Remember to watch 1100 on the S & P. I think we'll try to bounce again intraday here if we hit it but the rallies haven't had much conviction and that's not a great sign for the Bulls. I just don't see why anyone would be in a rush to buy here. I stick to my call on AAPL below $200, GOOG below $400 and PCLN below $150. I'm hoping we get a really nice playable bounce shortly as I plan on buying some July or August puts on them more then likely. We'll see what shakes out, in the meantime, let's just keep playing the market as it comes, cause that's the only way we know how.

Tic...I hate tics I've decided, but as with the market, even things that hurt (like losers) can teach us many valuable lessons. This Tic taught me a lot, it taught me that next time I see something sticking out of my thigh I'll assume it's a Tic until proven otherwise.

Tic toc, tic toc...the market's out of time longer term, and we're in time shorter term.

Rock on...I'm beat so don't mind me if I'm a tad incoherent.

See ya on the other side,-

Michael "Waxie" Parness
waxie@trendfund.com

OPTIONS BLITZ! Sign up NOW!

OPTIONS 3-DAY BLITZ w/LIVE Trading w/Michael "Waxie" Parness

Hi all,



Due to a ton of requests over the years - we are having what I've dubbed "The Mother of all Options Seminars", or OPTIONS BLITZ!



Go to the following link and hit the register button at the bottom of this page:



http://trendfund.com/r.cfm?x=OB052210





Here is what our current members are saying!



----------------------------



The month of April so far up $509,943.56 YTD. and $71,647.03 this month.



Tammy

----------------------------



Only made a little on DNDN, chickened out BUT made up for it on TEVA and CAT....made out like a bandit!!!



John

----------------------------



Choose your title, it doesn't matter! Saturday, May 22nd through Monday, May 24th we are having our most extensive, comprehensive, representative OPTIONS SEMINAR ever!



This seminar is strictly ONLINE, so no matter where you are you can attend! HOWEVER, there is an opportunity for 5 to 10 traders to come trade with me LIVE for the day here in NYC as well. Email me if you are interested.



Best of all, the last day of the seminar you get LIVE trading ALL DAY (8:30 am EST to 5:00 pm EST) with MICHAEL "WAXIE" PARNESS and SCOTT "CANDYMAN" LITTLEFIELD



*Options are my favorite way to leverage my account and maximize my potential gains, while helping to reduce and control the up front risk. Each Options is worth 100 shares of stock, so traders with small accounts (and large) often use this type and love this type of trading because it allows them the ability to control a lot more stock for a lot less money. However, there are risks involved, as always and trading poorly can be hazardous to your financial health. Trading involves risk and people can and do lose money. Education is the only way I know to give yourself an edge. This class is designed in a way that I believe will give you that edge. There are never any guarantees in life, or trading, but there's a reason the cliche exists - "knowledge = power..."



This is a MUST attend class, my friends.

Here is the breakdown;



DAY 1 (6 hours, starting at 11 am EST) Sat May 22nd:



*Intro To Options w/Michael "Waxie" Parness

This class will introduce you to the wonderful world of Options. You'll learn Puts/Calls and what it means to be a newbie to Options. LEAPS, "In the Money", "Out of the Money", "Intrinsic and Extrinsic" values will be covered as well. Michael will also take Q & A after the class and you should have a basic understanding of Options when you leave the class.



*Intermediate Options w/Michael "Waxie" Parness

Once you've learned the basics (or if you know them) we move on to what I call Intermediate Options where we'll go over Staddles, Strangles, and some basic Put and Call Spread Trading Techniques, and what it means to sell "Naked". We'll also discuss using Options as a Hedge for those of you who are investors, and some of the ways Options can be used to help protect investment principal when you feel the market is going to go down.



*Money Management and Options w/Michael "Waxie" Parness

One of the most important aspects of ALL trading is Money Management. The easiest way to turn any winner into a loser, or a loser into a horrid loser is by not practicing proper Money Management Techniques. Options are particularly tricky because the tendency is to go "heavier" when the position doesn't cost as much. I've certainly made this mistake on too many occasions and it almost always comes back to "bite my butt". One of the reasons I love teaching is because I can talk to myself as well and remind myself that there are basic tenets to successful trading, and life. In this class we will explore how we can practice good trading principals and proper money management. Our goal? BIG GAINS/BIG KA-Chingos and Small losses!



*The "Greeks" w/Scott "Candyman" Littlefield

The Greeks are quantities representing the sensitivities of options to changes in underlying parameters on which the value of an option is dependent. Since the underlying securities are constantly in motion, it is important to understand the major relationships that these sensitivities have to the option premium. In this class we will focus on all the major Greek relationships and how best to use them to enhance your trading. Everything from the Delta to the Vega will be outlined and defined and you will walk away with a clear understanding on the factors that drive an option price.





*Options Pricing w/Scott "Candyman" Littlefield



This is a sequel to the “Greeks” class where we will analyze the factors that impact an options price and how to understand the pricing relationship between the option premium and the underlying security. You will learn how to value an option chain and choose the best strike level to play. You will learn how to forecast options at various price levels in the underlying securities and learn how to take advantage of undervalued premiums and how to exploit bloated ones. If you truly want to learn how to be an experienced options trader this fundamental class is important.



DAY 2 (5 to 7 hours, starting at 11 am EST) Sun May 23rd:



*Advanced Options Strategies w/Scott "Candyman" Littlefield

(Spread Trading; Credit and Debit Spreads, etc)



This class will focus on various advanced option strategies and how and when to execute them. We will learn the logic and motives behind credit and debit spread trading as well as how to structure exotic combinations such as butterflies and back ratio spreads. We will also teach you how to use Trendfund strategies to make consistent gains in the options market and yes we will show when and how to short certain options when its prudent.



*Trading Options using TRENDS w/Michael "Waxie" Parness

One of the questions I get asked most often is "but Waxie, when do I use Options over Stocks? Can I trade the GAP using Options? Can I trade Options on Small Cap stocks?" In this class we'll explore the different ways you can use Options, what TRENDS qualify as "Options Friendly" and what don't. This is a very important class because often times it just doesn't pay to trade an Option over a stock, so we need to learn to avoid those potentially negative scenarios. A MUST class, along with Money Management. How do I know? 'Cause as with everything else I teach, I've experienced my fair share of haircuts due to making the wrong decision. In life, and trading, our mistakes often provide our greatest learning experiences and this class will prove that out in a POSITIVE fashion, helping you to make what I believe will be the right choice in your options trading!



*Trading Options Using TECHNICAL ANALYSIS w/Scott "Candyman" Littlefield



You can enhance almost any trading strategy by using Technical analysis even options trading. We will show you how to apply the technicals in a chart to construct various option trading strategies to maximize returns and how to use support/resistance levels to increase our chances of success. Learn to spot focal points in the chart and trade breakouts with options. Learn how to trade options on the internals such as the VIX and how to use candlestick theory to put your option on the right side of the market.



*The Week ahead, mapping out Option trades for the week w/Michael "Waxie" Parness & Scott "Candyman" Littlefield

How do we find potential setups for the week ahead? How do we plan our week of Options trading (or any trading). In this class we'll take you through our thought processes and we'll discuss ideas that look good at first, and second and maybe even third glance. We'll discuss ways to "Plan your Trade, and Trade your Plan" which is part of the Psychology of Trading that we'll also discuss. We are now ready for...



DAY 3 (8:30 am EST to 5 pm EST) Mon May 24th:



ALL DAY LIVE TRADING WITH Michael "Waxie" Parness and Scott "Candyman" Littlefield

*Now that you know options like never before let's see how you "roll" and "rock" and let's see what sets up during the all day options day! This day will be EXCLUSIVELY OPTIONS. We'll discuss all the setups, all the passes and all the "takes". There is no guarantee anything will set up as a potential trade, so with that in mind if need be we'll do a 2nd day of LIVE trading the very next day! We'll make a mutual determination about that if nothing looks like a good idea...I want everyone to feel good about the seminar, so if we don't "catch 'em" the 1st day we'll try a 2nd. I want you all to feel like Options Warriors when this seminar is over! Let's rock!





OPTIONS BLITZ PRICING:



DAY 1 - $800

DAY 2 - $900

DAY 3 - $1200



ALL 3 days = $1995.00



ALL 3 days w/discount for Option Trader, Stock and Option Play of the Week members, et al = $1695.00 total



ALL 3 days w/discount for Ninja and Black Belt and Marketcast members = $1495.00 total



*This is NON-Refundable.



*Billing will take place on May 20th according to which days you register for and according to what membership you currently have.



*These classes will be archived. The links will be sent out on the evening of May 24th according to the days you signed up and paid for.



*If you would like to come sit with me LIVE in New York during the classes and for the LIVE Day, please email me - waxie@trendfund.com. I can only handle 5 to 10 people for this. If you choose this option we'll also go out to lunch all 3 days together and you can come on my Radio show on Tuesday, May 25th if you'd like as well. The price of this is $4995.00 with no discounts. I've never done anything like this that I can recall but some have requested this so if you would like this, I'll try to accommodate.



*ALL attendees of this seminar will receive a 25% off a LIVE (yes, really live) seminar that will be held in NYC in June date TDB*



I look forward to seeing you all at our OPTIONS BLITZ! May 22nd through May 24th!

Please sign up ASAP so we can reserve your spot, and let's ROCK and RULE!



Go to the following link and hit the register button at the bottom of this page:



http://trendfund.com/r.cfm?x=OB052210

See ya on the other side,


Michael "Waxie" Parness





P.S. Here is more from our current members this week:

-------------------------------

Thank you for the awesome CAT puts - they really made my day.

Best,
Stan

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Awesome call, guys!!!!! you nailed it..thanks..

Nora
-------------------------------

Done, and YOU'RE KILLING IT!

LOVE YA LIKE A BROTHER

Eric

The BIGGER issue...

Happy Mother's Day to all.

I just shorted some ES (S & P futures) at 1129, though for a short term trade here overnight. Why mention it then?

Cause its part of the grander picture here with the markets and the world economy, and unfortunately part of the macroeconomic environment.

S & P futures Gapped up HUGE on the news that the IMF has approved Greece's $40 BIL bailout.

Shocking! Right?

Ah, no, not at all. Did anyone really think they wouldn't? It's always amazing to me how the markets overreact tot he simplest of news. Thursday you saw why, because the market is moved on very light volume typically, and TRADERS are moving this market, not investors. Traders and institutions actually, and mostly actually INSTITUTIONAL TRADERS.

This is why GS, MS and the large firms make a large chunk of their profits on TRADES.

But, we need to look at the larger picture and that points to a TON of issues all around us, most I hope I am wrong about.

The issues are Greece are NOT isolated to Europe, not remotely, they will affect both us here in the US and Asia, which then acts as a feedback loop and affects everyone the world over, again and again...

Sound familiar? It should, its eerily similar in terms of that feed back loop to the sub-prime mess. Some of you may recall that I sounded that alarm several times a couple of years ago (it really hasn't been long ago, it just seems that way since the market bottomed (or least looks to have bottomed) March of last year and has had, even with last weeks large pullback, a tremendous move higher.

When the sub-prime mess and the derivatives debacle were in their infancy, not in terms of real time, but in terms of when the public became aware of them for the most part you may recall the rallying cries were constantly "this will be contained" and with each bit of "good" news the market rallied under the belief that the problems are over!

Well, as we all know, that was not to be the case and the markets crashed and burned and TRILLIONS of dollars got wiped out and every market across the board other then Gold and such was destroyed. And, each time there was news that another finger was pushed into the dam to stop the leak, we tried to rally again, and again and again.

Ultimately we did have a bottom, of sorts, last March, but not until maximum damage occurred and people were crushed. Lives destroyed, jobs wiped out.

Then the government rushed in and started to print money and bailed us all out, or at least that was and has been the mantra. I would argue that it's ironic when this administration gets accused of being socialist, or even communist by some to the far right, that you could actually make a case that is the exact opposite of reality. Now wouldn't THAT be ironic?

For all the bashing of GS, we still have most of the nations economic policy being handled by former GS peeps. GS is being made the scapegoat (another irony since I'm usually a harsh GS critic obviously, but right is right, and wrong is wrong - as my mom taught me, may she rest in peace) but reality is that the problem is much bigger then GS, and as I've related, it should have been dealt with by higher ups then corporate execs, but that's another story and I want to stick to the point here.

The lower/middle and upper middle class in this country are the last group that can afford a dollar that is inflated to nothingness. So, when you try to solve your economic issues through printing money/inflation then you create a long term disaster potentially. The richest people should be fine, baring the uprising and revolts that could potential ensue (see Greece) when people can't afford to eat and can't find jobs that pay well enough to support their family. I may be in the minority but I see LESS THEN NO help that has been supplied to the vast majority of US families. The mantra has been and remains that a disaster has been averted, but I would argue that is anything but reality, that that is a very skewered and very biased rose colored glasses way of looking at a far more dire situation. And, lest anyone accuse me of being partisan one way or the other, let me make it perfectly clear that I believe that every party is a party to the mess that occurred and that they continue to contribute to the bigger issues. You can point fingers, but (3) always point back at you.

What's happening in Greece, make no mistake, 100% will and does impact this country in a major way. It's why the US knows we have to offer fiscal help to Europe despite some citizens raising eyebrows and yelling that we need to help our "own" before we help others "this time". It should be recalled that while the meltdown certainly wasn't our doing solely, you could make a very strong argument that we had at least THE major hand in it.

Further, a European breakdown can't possibly be contained anymore then our own could be prevented from spreading when many were buying the Euro thinking that THAT was the stronger currency. It isn't, but neither is ours, which is why Gold and precious metals have vastly outperformed and are at or near all-time highs here even as things fall apart elsewhere. (I just covered some of my ES short plus about 7 points btw as I write this - there is my ADD at its finest!).

Further, much of our "recovery" here has been staged and dressed up, a pig with lipstick if I may due to the vast amount of "phoney" money the government pumped into the system and into rebates and such to try to stabilize us. Many of these programs have run their course and part of the reason why the markets are now selling off, if that remains the direction of choice beyond a short term blip, is because of this. Will housing continue to stabilize if people don't get incentives to buy? Will the consumer continue its rebound when and if inflation starts to really do more then creep up and people realize that they aren't getting as much bang for their buck?

Unemployment #s have started to apparently turn, but is it a victory if people go back to work for the same or less (or much less) then they were making only to find out that their buying power has dwindled 10, 20, or potentially 40+ percent in the long run?

Greece will be bailed out, of course, as will Italy, Spain, Portugal, and eventually Germany and Japan. The same way we were bailed out they will be bailed out.

But, if bailing out continues to be inorganic growth, and inflation, then in the end we're going to all need to be bailed out and that is the bigger issue and the much much much bigger danger.

The solution? The solution has to be something NEW, just like the oil spill can't be contained it seems by placing a large steel case over the area, the economic health of the world can't be healed by putting a bandaid on an amputated limb.

What is that something new? I don't claim to have all the answers, frankly, but often times knowing that isn't working is a good first step to trying to find out what may work and right now I'm not so sure that the powers that be realize that what they've done hasn't worked, quite the opposite.

As always with my thoughts on this topic, I hope I am WRONG, because I see what's happening in Greece as a warning sign that we here in the US, and elsewhere in the world need to take very seriously and deal with head on.

I may not have an answer, but I do know that problems don't go away by HOPE, they go away with admitting there's a problem and tackling it head on.

When the American people get tired of hearing dreams and demand to hear reality we will, I believe, be at the point where we are ready to deal and make the necessary changes to make our economy, and the world over a healthier place. Socialist, communist, capitalist, we all have one thing in common above all others, we all want to be able to feed ourselves and our families.

You want to rush in and buy the market as an investor every time there is news of a quick fix? Be my guest, I prefer to TRADE both ways and not have some pipedream of DOW 25,000. The only way DOW 25,000 arrives is if inflation goes bonkers and if that's the case then you can look up what happened in Zimbabwe for a guide to what might happen here and elsewhere.



Peace and love to all,

Michael "Waxie" Parness

What goes up...must go down...

Spinning wheels, go round and round...

If you missed this move then I'm sorry, we topped and we caught a lot of it. I think you'll get another entry on the short side but here is another example of what happens when the bubble pops, the market goes down a LOT faster then when it goes up...

Next week we should get a spot to trade the long side, which we did this am for that initial bounce. A great trading market, folks, time to hop on board the Waxie Express...

Don't try to catch falling knives, but we will get some great trades next week fo sure...we have definately shifted however and I think the mantra now is to FADE ANY RALLY for the time being...

We're doing a 3 day OPTIONS BLITZ seminar, and then a LIVE seminar in NYC shortly, email me if you have interest. The OPTIONS BLITZ seminar will be May 23rd to May 25th and should be awesome. We're teaching soups to nuts Options, plus you'll get a LIVE options day with me and Scott on the 3rd day where we'll trade and talk about nothing but options ideas and rules.

Email me; waxie@trendfund.com

I have some more thoughts on the markets, and everything else over the weekend. Rock on, and it's pretty scary here in NYC these days, the market here can't help but be jittery. End of day we either get some serious short covering, or cascade more then likely. Middle of range actually most likely I would think.

We shall see soon enough.

RULE

See ya on the other side

OPTIONS BLITZ!

Waxie
waxie@trendfund.com

Man o man alive...

Today was what I am dubbing an N-shaped day. We opened down, went up to green, then went back to low of day and then closed at our highs. Hence an N shaped day. Hey, why not, we have V and U and W shaped recoveries, we might as well make good use of the whole alphabet.

In the meantime, I think tomorrow is a critical day for this market. GS reports and how well that sector reacts is going to determine, or help to determine where we head on either side of 1200 S & P. Today's action was more short covering late day into GS then anything else I believe and I still think we pause here with an outside shot at a decent size correction.

Couple things I'm looking at on pullbacks are some of the biotech stocks that have FDA and other news dates supposedly upcoming. Stocks like DNDN, HGSI, POZN all have important milestones upcoming and that trade has worked extremely well for a while. I am looking to add to those on a drawdown.

I have to say that anyone who knows me knows I'm not a "fan" of GS, and I can't possibly know the facts here, but it does seem really odd to me that anyone can claim this isn't political smoke and mirrors. I mean, come on, either these practices were right or wrong 10 years ago, or they weren't. Now, all of a sudden when a vote on financial reform is up they decide its wrong?

I think its wrong, which is why it might be surprising for me to take this stance, but I just think that things are a lot cleaner when they are done BEFORE meltdowns, then afterwards. And, how can it be glossed over for decades, but now its fraud?

The truth is that the average investor is at a HUGE disadvantage and is usually the one hurt in any meltdown. Most investors don't make money in the market, which is why when I get told that most traders don't I scuff. I will go to my grave saying that trading is far safer over the long haul then investing and at least you have control over your destiny. Imagine being a GS shareholder for the first time a week ago only to have your head handed to you. Don't get me wrong, I've had my head handed to me many times. I was just doing my Marketcast class and relayed how I was long a biotech stock last year and got DESTROYED on it due to bad news that came unexpected. My account was cracked pretty darn hard and it was not a happy day inside my brain, trust me. But, at least I feel like I can pick myself up and make decisions for myself.

Right now, what's interesting (or disturbing depending on your way of looking at things) is that as much as we are trying to crack down and regulate, we're doing almost the exact opposite. How? Well, these regulatory agencies are supposed to look at market manipulation like insider trading, or the type of trading they claim GS did, where they didn't disclose properly. Obviously there are other indiscrepencies, but those are two big ones. But, the thing is, the politics of all this is very blatantly manipulating the markets in much the same way, or even worse.

The only reason the stock market went up is due to government intervention. It feels sorta like in a very literal way that we're now "too high" and thus they want to tear it down a notch, lest the citizens revolt! And, I don't blame the average, or most, Americans for being pissed, but the anger is misplaced I think, which is why we hear these now cliche terms that its "Wall Street's fault!"

What does that even mean? There are private banks that have nothing to do with Wall Street that went under due to over zealous lending practices. Am I Wall Street cause I'm a trader of stocks?

I certainly hope not, I certainly don't want to face any angry mobs, I like to view myself as a good guy on the side of right. Not perfect, but a good guy nonetheless.

So, where is the problem? The problem is cultural is my take. It's culteral greed and the notion of being a society of victims is disturbing. I saw something late night last night about this guy who slipped and fell and everyone told him to "SUE!" I didn't catch the whole thing so I may be taking it out of context to be fair, but basically he said that he told them he didn't get hurt and that most people said "so, sue anyway, you can get a lot of money!"

Now, if the guy was hurt, he should sue if thats what his inclination is. If there is negligence then that seems appropriate, but suing for the sake of suing because you "can" sue and no other reason? That seems disturbing to me. There should be some thought process, I think, about the other side of things. Again, this is coming from a guy who had a very bad car accident last year and who would like to sue for my damages, but I think that there are limits and we push the limits of those boundaries at times. I just wanted to disclose that piece of it, lest I get called a hypocrite, which I may be called anyway come to think of it.

Regardless of me, I think that it's now time to concentrate on creating jobs and helping families in this country EAT and have a good home, and good healthcare, things that we all should have and all deserve. These political agenda's, I mean, does the average American think that they are going after GS now for any other reason, other then to force an agenda? And, I agree with the basic tenets of much of that agenda by the way, and again (I feel like I'm qualifying way too much, hehe).

I just don't agree with the tactics that seem routine now in the way our government works on both sides of things. Even the choice to go after GS was 3 to 2 vote with 3 Dems voting for it and 2 Reps against.

How in the world are we going to bring everyone together when things are so skewed that decisions are made not on the merits of cases, but on the political will of one party or the other?

And, lest I be accused of being anti Dem or anti Rep, I think you can see I really don't give a damn about either party at this point. I do care, however, that manipulation is deemed manipulation and that means that if the markets are being manipulated then ALL parties are accountable.

How about all the lobby money, all the political contributions and all the money made on the stock market leading up to the meltdown by these politicians, how about they, as a show of good faith to the American people, how about they give it all to back?

Since clearly there was a lot of looking the other way, which no one can really seriously deny, let's assume some of it (I'm being generous) was because of lobbiest and that the market was zooming to 15,000.

How about that for a start?

Just remember an old adage - "when one finger points at someone or something else, THREE point back"

Oh, and I'll even qualify that, what I really think is, again, its time to focus on POSITIVES and move things forward to really and truly help people. If I am out of work and starving, I want to eat, I can't feed my kids a law suit, they don't taste very good.

G-d bless and let's see what happens when the market shakes out tommorrow, I'm confused here.

BTW, if you don't know it yet, we are having 2 or 3 FREE classes this Thursday evening starting at 7 pm EST. If you didn't get an email about it, send me one and I'll forward it on to get you signed up;

waxie@trendfund.com

Peace out, see ya on the other side,

Waxie

Trading as a business opportunity...

Lately for some reason (I have my theories) I've gotten a lot of "can I get rich quick" emails from clients, or former clients, or wannabe clients, or who knows.

Trading to me is a legitimate business opportunity. My response is always - I don't know how. I know how to make money over the long haul, this is a job (fun often) not a lottery ticket. For people who want to, I believe, to create for themselves, be your own boss and create your own wealth, but there are always risks and not everyone makes money obviously...some lose, like any other business.

When I was on CNBC I guess a while ago they asked me about it, saying something like - isn't it true many people lose trading - I don't recall the quote, my memory since the car accident last year isn't what it used to be. Having said that, that will suffice. And, basically my retort was that it's similar to opening a pizza parlor. Some people open up a pizza joint and do very well and become famous (in NYC we have places like John's pizza, which is my favorite; Rays, which is a tourist spot, though most tourists never find the REAL Rays in Little Italy; or Patsys/Grimaldes) and some earn a living and some break even and some go out of business. I've found over the years that that's about what happens in trading.

More later, I'm beat, I'm going to post link to the Thursday 7 pm EST FREE classes and also more on this topic. It's very frustrating to me, today I got an email that literally (well, I'm paraphrasing but its pretty dead on) said "I've lost $600,000 and have $40,000 left and I have a debt that is due in July for $150,000, can you tell me how I can triple my money?")

The only "good" thing about the email is that I had Ilene check our databases and he's not a client as far as we can tell. So, he didn't lose the $600,000 as our client. I still feel badly if that's a true story, I don't like to hear about anyone losing, but its troubling that someone would lose basically 90+% of their money and still be trying to hit home runs! Still be looking to gamble and get lucky.

Trading in my opinion is a real business opportunity, if you want to go to Las Vegas, hey, go head. I've been there and when I gamble I usually lose as do most gamblers. And, as I've discussed many times here and in classes, when I've made stupid mistakes and taken "shots" which basically means I gambled, then yes, even I lose as well.

Be smart with your trading, its a marathon, not a sprint and if anyone tells you otherwise then tell them you are looking for something stable, not for a bookie.
Unless of course, you would like to turn $600,000 into $40,000 as well.

This is a tough economy, people are desperate, the winners maintain their composure. It's hard sometimes to do that, trust me, we all struggle at times with this, but ultimately to succeed we have to bull, or bear, through it.

Stay real...

RULE

See ya manana on the other side

Michael "Waxie" Parness

The upcoming week...

Tough call here, either we just ignore Friday's action and bust to new highs, or the top of this move, which would be about 1225 I think, holds as a wall and we really do get some type of pull in. Very tough to call a top here, but I'm not in a hurry to go long either. Definately want to wait for confirmation either way. I do think move higher in GS is shortable (I own very small lot of puts on it (10)). This is the first real test of the markets mettle here, so it'll be interesting to see how it pans out. Also, AAPL reports this week (I own a few puts on that one as well), and how that reacts post earnings will also be a good indicator. There are a few biotechs I am watching for upside, tho.

Man, I tell ya, we are in no man's land. It is amazing, though, how relatively quickly things can change. Last year was the opposite where every up move was met with selling, now every down move people scream "buyyyyyyyy!" As though Friday's 125points was this huge move down. It's not obviously, particularly relative to the like 80+% move up we've had off last years lows.

Will be posting about some FREE classes this coming Thursday. We are trying to do more FREE classes for several reasons, #1 to introduce people to what we're doing, #2 people are struggling and need to check things out before jumping in.

Will post more on the classes shortly...

RULE

Michael "Waxie" Parness

Life...or something like that

The market kept up its frantic pace and never ending skyward march perhaps back to S & P 1500 eventually. It'll be interesting to see how today pans out (Friday) since GOOG got KILLED after hours, down $30ish and the futures are tanking right now. With GE and BAC pre-market we'll either get a decent size drawdown or they'll be enough to pull us back up. My bet is we have a down day, but hey, in this market ya just never know...

I like a few stocks higher here, though and will detail to clients over the weekend as we prepare for a bigger barrage of earnings next week. So far its mostly higher off earnings but GOOG could be setting the stage for a leg down in techville. BAC and GE will really lead the banks, and thus the S & P. Watch 1200 on S & P as pivot Friday and throughout Options Expiration day. Make sure to close out of your April positions unless you want to roll them over into stock, or May.

FYI, I will be sending an alert out to all those who have expressed interest in our 3-DAY OPTIONS INTENSIVE that I spoke about here recently. If you are interested please email me ASAP as I am planning it out. It's not cheap, but it will be worth it, of that I am sure...; waxie@trendfund.com

Today was one of those days where I had some clarity, or what seemed like clarity into the meaning of life. Or at least my life.

A project I'm involved in seemed like a really good match for an old friends business. I hadn't talked to Neil in probably 7 years or something, since he called me and said he saw me on TV late night, one of the infomercial showings years ago. Neil is someone who I used to do business with when I sold baseball cards. He is honest, caring and an all around good guy. He's the kind of person that you really want in your life because you know he's not looking for anything but good for you. Yeah, he's a businessman and runs a very successful wholesale business, but even when we did business and haggled over prices on stuff, we always seemed to manage to come to a mutually benificial deal. He left his ego at the door and didn't forget that we liked each other. We had a banter that wasn't typical of almost any other business relationship that I've ever had. We did business for roughly 3 years and during that time he always expressed interest in my life outside business. He was "worried" about me, that I wasn't married, and seemed to wander, my ADHD apparent. He invited me to his house one day and wanted me to meet his wife, his kids, and basically every relative he had, or close to it it seemed. Neil is a religous man and it was for the Sabbath that we gathered. It was odd to me, since I'd never done something like that with a business relationship. Never. Odd, but also wonderfully comfortable. His entire family made me feel at home. Now anyone who knows me knows I'm not very religious. I grew up kinda lost and, well, wandering, trying to find my way. My family didn't really know what they wanted, so neither did I. So, having a religous meal of any kind, regardless of religion, was a very foreign thing to me. Very.
We had a great meal, and Neil made sure to make me feel as though I was part of his family. In fact, he introduced me as a "brother". I'm not terribly sensitive that way, I tend to fend off intimacy at times, or at least used to. I think I've grown since that time, but certainly then I wasn't the type of man who would easily be vulnerable. Not in the least. Yet, it was the first time in a while that something like that felt good. Growing up outside the system, certainly not the product of the typical "nuclear" family, the notion of family never really had a context. It usually meant that alien beings had descended on my life and were taking me to another galaxy. Yeah, I'm exaggerating, but not by much, it really was foreign to me.

OK, so after I became "waxie" and somehow found myself trying to help people find themselves as traders, or whatever it may be Neil and I lost touch, until that day when he saw my show.

He told me he was proud of me, that he always knew that I would accomplish great things and that I need to honor who I was. Proud of me? Someone who I hadn't spoken to at that point for maybe a couple of years or so? Yeah, proud of me.

Now, I should note that Neil isn't that much older then me. I'm not 100% sure, but I think he is about 53 years old. That seems about right. See, the thing is, Neil really did view me as his brother. I have a brother I'm very very close with, but I accepted Neil's invitation. He used to talk about spiritual brothers and I have other people in my life I feel same with, so its easy for me to accept that as fact.

After that call we spoke and emailed a couple of times over the years, and I thought of him at times and thought of calling him several times, but as life or choices of life would have it, it just never happened.

So, today I called Neil to talk business, but also to catch up. The people I called on behalf of, besides myself asked me if I was sure if Neil would take my call and get right back to me. Yes, I was sure.

When I called his secretary picked up and asked me who I was and what I wanted. I said just tell him it's Michael Parness and that's all. She said hold on and about 60 seconds later a male voice answered the phone. I of course assumed it was Neil, though the voice wasn't his. Voice is one of those things that if you are connected to someone you just know them in a nanosecond.

No, it's not Neil. It's his son, his son Noah. I remember you, Michael. You are unfortunately a week late. My heart sank as I asked him "Neil passed away?"

His son replied that he hadn't passed away, he had a horrible stroke and is basically unable to move, speak or do much of anything. There is apparently little hope of recovery.

I was very upset and spent five minutes relaying my warmest wishes and asking if there is anything I can do. That's one of those questions that really has no answer to it, we say those things and mean them, but what could I possibly do, other then offer prayer and my best wishes.

Noah told me that he wanted me to know that his father often spoke of me, that I was one of his favorite people and that I meant a lot to him. Our relationship meant a lot to him despite us not speaking for years at a clip. He went on for several minutes, even after telling me that he had someone there and needed to call me back.

It's amazing how much impact we can have on others around us, often without even knowing it. I spent a lot of my time calling stocks, dealing with customers who are happy, sad, mad, whatever. I get emails sometimes from clients telling me I had an impact on their life. Today one of our best students, who's probably made more then me trading lately told me that she build her house at least partly with our help. I'm proud of that piece of "this". I'm proud that I can and have helped some. Not everyone, but some.

Yesterday my daughter and I were talking about this book that she had read, "Three Cups of Tea". I haven't read it, but it sounds like a wonderful story. The guy it's about apparently has built many schools in isolated places in Pakistan and Afganistan where women and the poor don't get what we often take for granted here, an education. None. My daughter heard me speaking to Michael H. who works for me at Trendfund.com about my Haiti Project. Some of you know about it, and some of you have been generous enough to contribute. I think you for that. I'm working to build the best dang school Haiti has ever known. At least I hope to. And, to that end I've helped raise a nice chuck of money. We need more, but its a great start. So, my daughter said to me "daddy, you're like Greg Mortormer, the man from Three Cups of Tea".

I said, "oh, well, I just want to do things that you and your sister will be proud of me for." She replied that her and her sister were already proud of me, that I'm a great daddy and that's better then anything.

It made me tear up. There's nothing better then that, is there? Because if there is, I haven't found it yet. Having the love and admiration of people who you care deeply about. When Noah told me his father spoke of me often and was proud of me, it felt the same.

I hope I can live up to the belief's that others have in me. I don't know what success in life is sometimes. We define it for ourselves, but really I think it's how others define it for us that counts in the end.

Thing is, much of what Neil spoke to me about and wanted for me I either have, or am close to having, or at least know I want now. I thank him for that, I am grateful.


Have a good night all, market will open, market will close, they'll go up, and down.
Our lives have meaning if we allow them to have meaning, if we are open to there being more to life then whats on our mind in this moment. Sometimes I forget that, until I am reminded with days like today. We impact others more then we know, its something, I think, to be respected and nurtured.

I wish Neil and his family my heartfelt prayers. I'm proud of him, too.

No ruling tonight, just this.

Michael "Waxie" Parness

FIRST QUARTER ROUNDUP...

Wow, what a quarter, market started the year with a BANG as the January Effect rocked...then we tanked 10% and everyone figured it was the end of the line. The Bears were out in full force proclaiming the death of the market...but they were wrong, at least temporarily. Then we rallied hard to where we are now, stalled right near the highs of the last year+ at the end of the first quarter.

Window dressing proved very profitable and our traders seemed to enjoy a ton of goodies and goodie bags. Today I got out of most everything I owned as I am now neutral on the market. I think good shot we get a small drawdown, but baring bad news I doubt it goes very far, 1150 is a support line to watch on the S & P. If we did bust below that and hold below it we may indeed head below 1100 again.

The market is kinda in no man's land here. There's a ton of reasons we've seen our peak for the time being, including what I just laid out in the preceding paragraph, but we still look to me that at some point not so far away we want to taste 1200 S & P, and 11,000 DOW. Its not often that we'd get this close only to fail and not hit those magic marks. Since 11,000 should be stiff resistence at least initially, though, its hard to get very bullish either.

So, for now, until proven otherwise, we're range bound and I plan on staying pretty tight here. There are some earnings runners I like and I may do a class on that, so stay tuned! I'm hoping that we get a pull back which would set that up nicely, though, so we'll see soon enough.

RIMM reported after the close and the #s weren't good enough to drive the stock higher after hours, though I will say the stock didn't sell off enough to scare me away from saying that the dip is probably buyable and I wouldn't be surprised to see RIMM go green TODAY (Thursday) or next week be higher then where it is at the open tomorrow. $65 area should be a very strong base of support and it bounced near there after hours, so thats a crucial line in the proverbial sand (I think it hit $66actually).

Tough times, a lot of people struggling, and I feel for them. It doesn't provide any solice, but I think most everyone I know is struggling in some form or another. I certainly do at times, its part of the human condition.

I read an article about trading the other day that basically condemned traders to losing money. It's really sad and horrid how our profession is a punching bag, when I believe so strongly that there are ways to profit huge in this market (or any) and with the right game plan and the right discipline you can rock and RULE.

In my Marketcast classes we're going over just that, each trader setting up their own personal "trading plan" and hopefully sticking to it. We're offering a FREE 2-week trial to the service, which is normally around $500 a month. I suggest you sign up, just email - ilene@trendfund.com and she'll hook you right up. I love doing it, its twice a week and I think people are digging it as well.

I'm beat, hope you all caught my new radio show, be sure to dial in to speak to me every Tuesday from 1 to 2 pm at - www.chataboutit.com/about/the-trader-speaks

Dial in toll free at - 877-242-8212

In the meantime, let's continue to rock and roll, but be cautious cause right now its a toss up I think and I like better odds then that...

RULE!

Michael "Waxie" Parness

*Free 2-week trial at our premier CHAT ROOM and EVERYTHING off at; www.trendfund.com

Don't be shy, and don't regret - RULE!

NEW Radio show I'm hosting - THE TRADER SPEAKS! Check it out!

Michael "Waxie" Parness hosts NEW Radio show - THE TRADER SPEAKS - every Tuesday @ 1 to 2 pm EST! TUNE IN!

*1st LIVE RADIO show is tomorrow, March 30th, Tuesday from 1 to 2 pm EST!*

COST - FREE, its radio!


WHO: Michael "Waxie" Parness and guests...
WHAT - THE TRADER SPEAKS radio show
WHERE: Log onto; www.chataboutit.com/about/the-trader-speaks
WHEN: Every Tuesday from 1 to 2 pm EST
WHY: To get a LIVE market perspective, exciting guests, live charting take, and live dial in to talk to Michael and his guests!


Hear yee, hear yee, henceforth Michael "Waxie" Parness hosts a brand new and LIVE Radio show called ---

THE TRADER SPEAKS

The Trader Speaks will feature guests from all over the financial community. Michael will trade LIVE, on air, and give his own take on the markets up to the minute throughout the show! The show will also feature some exciting and insightful guests...

Tomorrow's 1st guests are;

Jon Najuarian, or "Dr. J" who many of you know from CNBC's FAST MONEY. Dr. J is known widely as an Options trader and expert and is often brought on to discuss what options are hot, or not. A trader himself, I think he'll provide some very valuable insights into this universe for us.

We also have Bob Dorman, Publisher of Active Trader Magazine to discuss the nature of Trading from his perspective.

Plus, we'll have "Chart Toppers" with our own Scott "Candyman" Littlefield to talk about what he's looking at midday in the market and what he sees for the near and beyond future from a technical analysis angle.

AND, last but I hope not least, Michael will provide his intraday view on the market and also some Tuesday's do LIVE trading ON AIR for you to join in on if you choose! This is the first show of its kind that we know of!

We'll also be taking YOUR phone calls so you can call in and ask Michael or the guests what they think about the market, a stock you want to hear a view on, or anything related to what THE TRADER SPEAKS might speak to!

So, tune in tomorrow, and every Tuesday afternoon at 1 pm EST to THE TRADER SPEAKS;

www.chataboutit.com/about/the-trader-speaks

ALSO, please tune into Michael's other radio show, every MONDAY night from 7 to 8 pm EST - TREND SUCCESS where Michael talks to people from all walks of life about Success in all sorts of ways! Tonight's show is on one of my pet causes, and should be yours - Tort Reform. We'll have experts and attorney's to discuss the merits of this issue, and the non-merits as well. Next week should be a special show featuring one of the oldest living Holocaust Survivors as we continue with Episode #3 in our Survivor Success series on how to survive and thrive in crisis situations. This will be a personally and universally important episode, so please tune in!

Trend Success you can tune in by going here; www.chataboutit.com/about/trend-success

Look forward to seeing on THE TRADER SPEAKS tomorrow @ 1 pm EST! Be there or beware of the market...Michael is taking the fear out of trading, and putting the fear into Wall Street each and every week on THE TRADER SPEAKS, and each and every day at - www.trendfund.com where YOU can get a FREE 2-week trial!

*You can dial in to speak to Michael or the guests LIVE by dialing Toll Free - 1-877-242-8212

See ya on the other side, as The Trader Speaks...and Happy Passover to all who celebrate...

Michael "Waxie" Parness
Host - The Trader Speaks (www.chataboutit.com/about/the-trader-speaks)
CEO Trendfund.com
Co-Founder - My Financial Power Makeover (www.myfpm.com)
CEO Market Visions (www.trendtrade.com)

Put up or shut up...

OK, so Wednesday not only Greece, but Portugal hung over the market like two dark Euro-clouds, and the market couldn't take it.

The key here is, does the Euro completely fall apart now, or later? If its now then we have some serious issues, if its later then we'll get a snap sharp rally as soon as these issues are resolved for the time being, which they will be.

I'm still looking for that Window Dressing beast run to bust us out and maybe it gets going on some good news out of Europe. The Dollar looks like it could really crank here until/if that happens.

GOOG finally got that sweet reversal, I caught some of it, but couldn't trade all day so missed some as well. Still, very nice, who knew?

Financials are ON FIRE, FAS looks like it may hit $100 before April. BAC looks like it has $20 written all over it. I own some BAC calls, btw.

Today is tough day to call, we're coming into a holiday weekend and trading is light and we're still way overbought so it SEEMS like a good time to pull in a bit more, but I still think we have to see 11,000 and 1200 on S & P so hard to imagine baring bad news that we don't hold steady until we reramp and hit those levels. We'll see soon enough but I didn't see any panic selling WEdnesday and I guess we don't either way right here.


RULE!

See ya on the other side,

Waxie

BAMMO SLAMMO, and who forgot the correction?

I'll tell ya, I've been sleeping late these days cause I've been up working and researching, like I am right now. So, I haven't traded the open that often lately. We've been KILLING this market both intraday and swinging it so I haven't felt the urge or need.

having said that, I did wake up (I took a nap in the afternoon, however) for the open cause I "knew" that we'd open down and it would be a GREAT buying opportunity. Sure enough BAMMO SLAMMO I was right. Hey, it does happen, ya know? There's a reason you're reading this blog, I would guess.

This market should get a selloff after this quarter ends, but seems unlikely to get a major down move before that. that doesn't mean we won't sell off 200 to 300 points in between now and the 1st of April, but right now you just gotta go with the buy the dips theory until proven otherwise.

I'm putting the finishing touches on my Window Dressing class and picks. I already gave 3 stocks in the FREE - MOTHER OF ALL STOCK CLASSES on Thursday and then Saturday me and Scott taught and you can email - ilene@trendfund.com for a link to the archive, but regardless, let's see what shakes out.

There's one stock I am really stalking here. It's a stock I haven't done all that well with in my history with it - GOOG. I hate trading GOOG. Yeah, I've had some REALLY big scores with it, but its also cracked me more then a couple of times. Having said that, I think its setting up for a really nice long entry here and I want to be there to catch it. I have a plan, and members are gonna hear about it when it does set up. May not work, ya never know, but I am very confident in it.

We are offering a FREE 2-week trial to both my Marketcast class and Trendfund.com right now. You should take the trials, they are free and you have nothing to lose by checking it out.

OK, that was my plug. It's interesting listening to this debate about the Obamacare bill. First off, it passed, so whether you like it or not, lets move on, shall we? We spend so much time in this country wasting valuable resources on things after they are finished. Do I like the notion of ALL Americans having health care? Absolutely, no question. Do I like the idea of change? Yup, sure do.

Do I like the basically bribes that were handed out, and the fact that I think it will ultimately have a very adverse economic impact and hurt growth and potentially the very people its supposed to help? Nope, not at all. It's a very mixed bag.

Thing is, there is just so much politicizing on every "hot" issue that it just takes much of the benefit out of any visionary idea.

I don't like a lot of what's gone on, not on either side of the political fence. I think its just one big pool of urine, but its what we have, so we make the best of it. Since it did pass, I guess we'll see if it does any good, or just makes things worse in the end. In the meantime, its time to move on to other sordid affairs and our job is to crush the market, and that's what we've been doing lately - crushing it!

Oh, one more thing, a week from today, on Tuesday March 30th I'll be debuting my new LIVE online radio show that is STRICTLY on the stock market. It's at 1 pm on the same station my other show is on;

www.chataboutit.com - 1 pm EST every Tuesday, starting March 30th. it's a one hour LIVE show where I'll be talking stocks, stocks and ka-chingos and hopefully be doing some live trading right on air!

So, come check it out and call in and ask questions on your favorite stock or sector or anything ya like.

See ya there, on the other side,

RULE!

Waxie