Monday, May 31, 2010

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...



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 -

#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;

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;

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;

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.


See ya on the other side,

Michael "Waxie" Parness

Saturday, May 29, 2010

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; 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; 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...


See ya on the other side

Have a GREAT Memorial Day Weekend -

Michael "Waxie" Parness

Wednesday, May 26, 2010

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; 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


Tuesday, May 25, 2010

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...


Michael "Waxie" Parness

Monday, May 24, 2010

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...


See ya on the other side,

Michael "Waxie" Parness

Sunday, May 23, 2010

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 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


LIVE Options Trading Day Monday!

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

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!


Rock on.


Friday, May 21, 2010

OPTIONS BLITZ this weekend! Sign up NOW!

Email me;

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

Sign up NOW!


Today = rockin'!

Wednesday, May 19, 2010

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; or 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

Monday, May 10, 2010


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:

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.



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



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!


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 - 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:

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.



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





Sunday, May 09, 2010

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

Friday, May 07, 2010

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;

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.


See ya on the other side