Wednesday, March 31, 2010


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 - 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 -

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...


Michael "Waxie" Parness

*Free 2-week trial at our premier CHAT ROOM and EVERYTHING off at;

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

Monday, March 29, 2010

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...
WHERE: Log onto;
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 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;

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;

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 - 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 (
Co-Founder - My Financial Power Makeover (
CEO Market Visions (

Wednesday, March 24, 2010

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.


See ya on the other side,


Monday, March 22, 2010

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 - 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 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; - 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,



Sunday, March 14, 2010

FREE CLASS for ALL! This coming Thursday and again on Saturday = THE MOTHER OF ALL FREE STOCK CLASSES!

Totally 100% free, and will also have at least a couple stock and options ideas for ya for FREE!!! Sign up NOW and reserve your seat!

Michael "Waxie" Parness Tired of looking for work? Of working for "da man"? Stop the insanity and get with the BIG Ka-chingos! This Thursday and Saturday is - THE MOTHER OF ALL FREE STOCK CLASSES! Totally 100% FREE and the class will also give FREE stock picks!

Monday, March 08, 2010

MARKET and tonight's show;

First off, thank you all so much for your much appreciated comments and requests for me to start posting again. I will start to do so shortly on a regular basis, but until then will post on and off.

Right now the market has carved out a very solid range of 1100 to 1150 on the S & P, and is threatening to break to new yearly highs. Today's selloff, if you could call it that, of 15 DOW points was on the lowest volume (easily) of the year. This could be very bullish. It's been the opposite, meaning that on up days the volume is very light and down days bigger.

Having said that, I think anyone who says day to day they can predict this market is kidding themselves. Technicals aren't working great, and this kind of slow methodical trading doesn't do wonders to that many traders accounts. Most of the guys I respect, including myself, aren't rocking the world at all. It's tough to take hard swings here. Having said that, I do believe there are some very good opportunity and risk reward plays here. We've done well with GE, and C and both look to me to go much higher on a breakout to the upside on the markets. I think the downside isn't immense, and the upside could be explosive. Having said that, and yes I am hedging myself here cause you have to in this market, you could just be tying up your money for a long time.

Many stocks are just trading in a tight range, so its important to watch for breakouts and breakdowns. Maybe more so now then in a very long time.

I also like the AGs here if the market stays strong, and watch GNK, they are IPOing BALT this week supposedly and the stock could get a nice pop into that, though holding it over the IPO could prove risky. I currently own all of these.

I think the market is rallying on future inflationary predictions, its why people are dumbfounded as to why the market keeps climbing. Bears have to be very careful playing that disaster game, its proved long term to be a very bad way of trading...

Tonights show;

Michael Parness: "Trend Success" Tonight: SURVIVAL SUCCESS, How and Why Some People Survive Disaster, and some don't...

This is a MUST listen show, Survival and THRIVE go hand in hand. How you think and react to disaster will decide how you SUCCEED potentially in any area of your life...and it may even save your life and those around you!

WHEN: Tonight 7 to 8 pm EST


Tune in tonight and let Michael Parness take you to “The Unthinkable” and
beyond. Joining Michael are 3 of the world’s most foremost authorities on
Disasters (manmade and natural), and most importantly, how to survive
them. From market meltdowns to bioterrorism and hurricanes, this
show is a must for anyone who wants to know what to do when the
you-know-what hits the fan.Guests:
Amanda Ripley: Award winning journalist specilaizing in covering
disasters (natural and manmade). Sr. Contributor, Time Magazine,
Author, Speaker, and expert on Disaster Survival, having covered and
seen so many first hand. Amanda has traveled the world studying
disasters, natural and manmade. Her book, The Unthinkable: Who
Survives When Disaster Strikes — and Why, is the first major book to
explain how the brain works in disasters — and how we can learn to dobetter.
Dr. Jim James: Executive Director, Center For Public Health
Preparedness and Disaster Response. Editor-in-Chief, Journal Of Disaster
Medicine And Public Health Preparedness, a peer-reviewed publication of
the American Medical Association. Dr. James brings over 30 years of
experience in the public and private health care sectors-as a clinician,
researcher, and program director-to this challenging and criticalundertaking.
Karen Ketchie: President and CEO, Disaster Management Consultants.
Karen and DMC have developed many disaster-response-programs
currently being used by hospitals, other medical facilities, and
municipalities around the country; teaching at evey level how to prepare
for the worst, and what to do when the "worst" happens. Karen is on a
medical team that was recently dispatched by the government to Haiti,and she just recently returned from her service there.