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 Michael Parness     www.trendfund.com/banners/bannerthru.asp?bannerid=947&position=TF11     Graphic_subscribe   

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    Community Rank: Sr. Analyst (285 pts)  |  Member since 06/10/2008
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GU - I would not hold it over earnings. 07/22/08
GU - I like this little one, GU, into earnings that come next week. This is the type, like ICO,that often gets a run into earnings. $12.50 looks like key resistence, if it can break there it can see $15. If not, then stopping out and risk is minimal. I would not hold it over earnings, no way, but into them looks pretty good here risk/reward wise. Still staying away from ANYTHING financial....

GS - I think its one of the best shorts out there. 07/22/08
GS - I still say and will continue to say that as much as people love GS, it's vastly overpriced and on the next wave down here SHORTLY it sees below $125 a share. I think its one of the best shorts out there. The bigger they are, the harder they fall. Best of breed falls hardest, but trust me, having lived through several Bear markets, they do all fall. Yes, there are things to buy here, l...

LEH is still trading like it wants to go way back down. 07/22/08
I still say LEH is the next to go UNDER, like BSC. All the talk of LEH going private is rubbish, they are basically worthless with all the bad debt, you don't go private if you aren't worth anything! You go bankrupt or merge with someone who is nice to you, ala CFC. LEH is not a stock you want to own, at least I don't. Michael "Waxie" Parness

ICO - I like this small cap coal play 07/22/08
ICO - I like this small cap coal play into earnings next week. If the market doesn't get in its way it could see $12.50 or higher before earnings. Like with most small caps, I would not hold it over earnings, just into them. We'll see, but a tight stop gives you a nice risk/reward here on this one. Michael "Waxie" Parness

GOOG has a one way ticket. 07/22/08
GOOG has a one way ticket to $250 next stop, and then, I believe, $150 as a final destination. Their earnings showed what reality is, the poor economy is infecting every type of business. None are immune. Big tech is going down in a big way. As a trader we play them both ways, up and down, but I have to have a bias and unfortunately that bias was and remains to the downside. This Bear has v...

The stock is vastly overpriced. 07/22/08
AAPL is headed to under $100 by years end. The tech selloff has begun and it's only going to get worse. Why? Because that's the way a cyclical BEAR market works. It's the anti-bull market. The Bear goes around to each sector and rips them apart one at a time. Yeah, you get bounces (DEAD CAT) but that's about it until the Bear has been fed and goes into hibernation. You can say I'm wrong, ...

AAPL - It doesn't pay to fight the tape. 07/17/08
AAPL actually lagged the overall market rally and at times Wednesday looked like it wanted to stay red, but in the end it finished up $3 as shorts tossed in the towel. It doesn't pay to fight the tape, baby, no shot no how no way! Tape said HIGHER, so the only way to trade Wed. was from the long side. I think we should trade sideways a bit here, maybe even get a further push up, and then roll...

FNM/FRE - I am 100% not short these stocks. 07/17/08
FNM/FRE - The Fed has intervened and basically made it hard to stay short these things. While ultimately they will both be at zero, unless the Fed really gets socialistic on us and then they buy them out for a premium, now that would be cool! You'd see an awful lot of big shorts in the market bail and the stock market would rally like 2000 points in a DAY! Just have the Fed buy out FNM and FR...

USO - Oil could see $125 near term. 07/17/08
USO - Oil could see $125 near term and thus I remain short the USO here for now. I think this should see $100. The energy stock sector is still very crowded and thus it's going to be hard for this group to get that much momentum going unless oil REALLY spikes beyond $150, which may happen but without news won't happen this instant. I like this one lower. Michael "Waxie" Parness

GOOG will dictate the direction we are about to take. 07/17/08
GOOG reports earnings after the close today. This report should dictate what the Nasdaq does in the near term, it is without a doubt the most important tech report there is. Not INTC, not IBM, not CSCO, or any other, GOOG will dictate the direction we are about to take. Stay tuned. I don't hold stocks over earnings 98% of the time, so I'm not holding GOOG either way. My GUESS is they blow out...




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More about Michael Parness

Avg exp holding time:
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Age:
40's

Occupation:
Investing/Trading

Location:
New York, NY


Website:
www.trendfund.com/banners/bannerthru.asp?bannerid=9..

About Me:
Single father to two beautiful little girls. Rags to riches life story optioned by Dustin Hoffman. Ho ... more




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