Cha Ching!

I'm bailing here with a small profit. Another great Waveride to start the year!

DeNile

(AP)Beijing had its coldest morning in almost 40 years and its biggest snowfall since 1951. Britain is suffering through its longest cold snap since 1981. And freezing weather is gripping the Deep South, including Florida's orange groves and beaches.

Whatever happened to global warming?

Such weather doesn't seem to fit with warnings from scientists that the Earth is warming because of greenhouse gases. But experts say the cold snap doesn't disprove global warming at all — it's just a blip in the long-term heating trend.

You quackentists are cracking me up. Its like the end of the Wizard of Oz with snow. Pay no attention to the blizzard behind the curtain! Sheesh.

Well our pick got filled this morning and did mostly nothing all day. I didn't bail so lets hope we get a pop in the morning. Meanwhile I'm going to outside and enjoy the heatwave while I build my snowman.

Trust Babies

(DailyMail/UK)Tragic heiress Casey Johnson lived her final days in squalor in a rubbish-strewn slum with no electricity, water or gas, and rats in her swimming pool.

Cut off from her family fortune, the 30-year-old Johnson & Johnson scion’s privileged life spiralled out of control into a drug-fuelled hell, according to reports in the U.S.

They found this chick on the floor three days later. Talk about sad. Which leads me to my point, never leave your kids money when you die, you are doing them a disservice. Pay for college, a wedding, a down payment on a house but then tell them they are on their own. Every privileged trust baby I have every know has turned out to be an arrogant, useless prick/prickette. They outnumber proctologists 50 to 1 so don't make more please.

Today was a flat day in the markets with prices clinging to reisistance. Tomorrows pick is DRYS long @ 6.54 Good Luck.

Where is the beef!

Happy New Year! I thought I would start the year out with a brief review of last years results for the many loyal readers that requested them. A few data points to begin;

1) I didn't start keeping track until about June (I really am lazy).
2) There were many days there were no trades because either our entry wasn't hit or there was no setup.
3) I will continue to post the results of the trades in the "Keeping Track" window at the bottom of the blog (Who knows I may even put together a fancy chart!).

The stats;

1) 85% of the trades were profitable.
2) The largest single trade profit was 9.63%
3) The largest single trade loss was -7.53%
4) The annualized Waveriding profit was 9.5%

As you can see Waveriding is a get rich slow plan but it does work. Many of you have emailed me asking if I would teach a class in Waveriding. I'm thinking about it but it sounds like work and as you know I specialize in lazy trading. Keep the email requests coming and if I detect a ground swell of interest I will consider it, I still have more kids to get through college. As for the rest of you lazy traders just keep shadowing the trades I post and you to will be able to afford the price of a gourmet cheeseburger by the end of the year!

Back in the real world the endless rally continues for no good reason. I'm pretty sure everyone I know bought less stuff this holiday so I am looking forward to how our government will spin those numbers. We are still lurking about at S&P 1130 and I suspect some overstuffed traders are napping at their desks. I give them until the end of this week to digest their holiday glutton fests.

There were no setups today so rest up and we will get back at it again tomorrow.