I’ve just finished the new Slope of Hope introduction video, and I’d like you to watch it. My main motivation in doing this is to make sure I haven’t missed anything big. This thing was way more work than I imagined (particularly the voiceover), so I’m really hoping I’ve covered the bases! But if I’ve missed anything, please tell me, because I want this to be informative, instructional, and interesting…………..and I really hope even long-time Slopers learn one or two new things! I look forward to your feedback.
After all the insanity of the past couple of weeks, it’s good to see Almost Nothing Whatsoever is dead ahead. Maybe it’ll give stocks a chance to, ya know, follow market forces or something crazy like that.
This evening, I am hard at work at a totally new introduction video for the site. Once I’m done, I’m going to post it, and I’d very much like your feedback, particularly noting if I’ve missed anything important! It’s all part of the “make Slope more clear” mission.
The Slope PLUS post I did on June 9th pegged, ALMOST TO THE SECOND, the top in the Russell 2000 index. Since then, we’ve been weakening.
Observant readers may recall that I wouldn’t stop bitching about selling my QQQ puts too early. What I haven’t mentioned is that, over the past few days, I’ve been building up the exact same options position (again, July 21st puts, these priced at $142) against the IWM. I solemnly pledge not to completely bungle the exit on these.
As a reminder, I haven’t traded options in ages, and unlike you fancy folks, I am just a dumb old bear who buys puts. My little account is up about 40% since I started just a few weeks ago, though, and hopefully this IWM trade will make up for my “left too much on the table” QQQ trade. Here’s my fingers-crossed anticipation:
Have you ever put your hand in the pocket of some pants or jacket and found cash in there you had forgotten about? It’s a nice surprise. That’s how I felt yesterday when I stumbled across this album on YouTube. I had listened to this thing endlessly in my younger years, and playing it yesterday, I couldn’t get over how good it was. So, yeah, it has nothing to do with trading, but give it a listen if you need some music in the background while staring at charts today.