Wednesday, June 16, 2010

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'...


Michael "Waxie" Parness


Tuesday, June 15, 2010

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 -
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!

See ya on the other side,

Michael "Waxie" Parness

Sunday, June 13, 2010

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 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;

Also, remember to take your 2-week trial to 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...


See ya on the other side,

Michael "Waxie" Parness

Wednesday, June 02, 2010

Link to FREE newsletter*

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

*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;
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;

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

Michael "Waxie" Parness