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September 20, 2006

Dear Fellow Options Trader,

On Monday (Sept. 18), my good friend Mark Fisher flew me out to New York to speak at his intensive futures-trading symposium. The event was great and very well-attended, even at its hefty $2,500 price tag. The reason folks were willing to part with such a considerable sum was not just because Mark had assembled a wonderful group of trader/teachers, but also because Mark donates all proceeds to the Make-A-Wish Foundation. Truly a magnanimous gesture that regularly raises six figures for that great organization.

In addition to Mark Fisher himself, this year the panel of lecturers included Dennis Gartman, publisher of "The Gartman Letter"; Jim Rogers, author of "Hot Commodities"; and yours truly.

Now most of you probably don't know Mark Fisher, who he is and what he does, and for those of you who do, please indulge me. Mark is the owner of the largest clearing firm on the New York Mercantile Exchange (NYMEX) and is probably the largest individual energy trader in the world. His skill and instincts have helped him amass enough money to buy several small countries, but it's not his wealth that makes Mark exceptional -- it's his heart.

I've been in his office when he was taking the other side of huge, multimillion-dollar trades from the likes of Enron, Goldman Sachs and other formidable players in natural gas or crude oil, and I've seen how he turns those complicated derivative transactions into a trader's equivalent of an ATM! Mark would be the first to admit that he does not win on every trade, although his discipline is so strong that those losses are insignificant, while (my words here) his winners are mind-boggling!

Yet this same character, who seemingly has his own printing press for money, is more than happy to teach his methods to hungry young traders as well as seasoned investors, and this investment symposium was just one example of same. In short, Mark doesn't only offer his considerable teaching talents to privileged Ivy Leaguers, or folks with $2,500 to plunk down for a two-day symposium.

Actually, if you took a trip through his office and you'd see Mark giving a leg up to inner-city kids. And not just to young guys, as young women also make up a significant portion of his empire. Mark's MBF Clearing Corp. is like the U.N., but with one major difference -- it works!

I could go on and on about how generous Mark has been with his time and his money, but that's not what Mark is all about. He gives money because it's right to help someone less fortunate. He brings kids in off the street and teaches them to trade; they can return to their neighborhoods as living proof that it's possible to get out and live the American dream. And in doing so, Mark not only lives the dream himself, but he also perpetuates it.

HAVE COMMODITIES RUN THEIR COURSE?

Today the Fed voted to refrain from raising interest rates, and the markets dropped after the pause was announced. This governing body noted that it sees inflation as being contained, along with continuing moderate economic growth, a cooling in the housing markets and reduced energy price concerns.

Along those same lines, I'd shared a missive in our ChangeWave Options Insider on Monday about how bad commodities look at the end of the third quarter, which is a carbon copy of what the end of the second quarter looked like for the stock market.

The hedge fund blowups in commodities will be vilified, as they were for the stock market's performance at the end of the second quarter, but sometimes where there's smoke, there's fire! I don't think we need to jump on oil, natural gas or gold too fast, as they may have short rallies, but will not likely sustain until mid-October. Besides, there are always other opportunities out there in sectors that are getting ready to run, and when they do, we'll be along for the ride!

Good luck trading and remember -- pigs get fat, but hogs get slaughtered, so don't be a hog.


Jon "Doctor J" Najarian
Editor
ChangeWave Options Trader


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