Slope of Hope Blog Posts

Slope initially began as a blog, so this is where most of the website’s content resides. Here we have tens of thousands of posts dating back over a decade. These are listed in reverse chronological order. Click on any category icon below to see posts tagged with that particular subject, or click on a word in the category cloud on the right side of the screen for more specific choices.

I’m Coming to Join Ya, Honey!

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The market has certainly “felt” a lot better to trade for me lately. The bulls are bears continue to be in a brutal battle, but lately, the smack-downs are coming from the bearish side instead of the bullish one. In other words, there are several times each day where it’ll seem like things are starting to get bid up, but my stops don’t get hit, and things start to unravel again. It’s a welcome change.

One chart that I think expresses neatly that (a) we’re in a long-term downtrend (b) we’ve had a vicious counter-trend rally for the past few months (c) which has ended……….is JNK, the high-yield ETF. I’ve got a big short position on this one, with a tight stop.

0505-jnk

The big news, of course, is forthcoming in the monthly jobs report. I don’t care whether it’s strong or weak, because nobody knows how the market will react to either possibility. What I do care about, of course, is how the (ungodly large number of) short positions I’ve got handle the reaction.

Lately, I’ve been stopped out of virtually nothing, although in a tiny number of cases (such as DDD on Thursday) I decided to take profits. I’m not sure what else to say, except that I’ve got everything I’ve got two of………crossed.