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

No comments: