Saturday, August 07, 2010

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, or 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

*If you are interested in donating ANYTHING for the Haiti project, please email; 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!

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