Author Archives: Tim Knight

Trendline Victory

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Now that I’m home, and on the other side of only four hours’ sleep, I’m ready to crawl back into bed and enjoy an all day siesta. That really isn’t’ an option for me, however, so I’ll just toss out a quick post, do a quick dog walk, and jump into this interesting trading day.

What I will say is that my multiple mentions a week ago about how “trendlines matter” seems to have shown itself to be true with flying colors, as we’ve witnessed one of the most meaningful drops we’ve seen in a year’s time.

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Stupidity Unwound

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Look, honestly, I know I am not the brightest bulb in the hardware store, but this is my perception of recent events:

  1. When Trump was elected, in spite of the initial “holy shit!” reaction of limit-down markets, people assumed his willingness to rape the environment and let corporations run amok would be really good for equities, so they bid them into the stratosphere.
  2. A key component – – indeed probably the most important component – – of his bluster was that he was going to “repeal and replace” ObamaCare. I frankly think there is NO solution to the health care mess in the U.S., but that’s not the point of this post.
  3. Even with BOTH houses of Congress in his party, he completely failed to pass his first major legislative initiative. Make no mistake, this should be perceived as a totally pathetic embarrassment which presages his utter failure as “President”
  4. This algo-driven market, since it’s completely retarded and devoid of thought, actually RALLIED on the news.
  5. Now that we’ve had the weekend to let reality sink in just a little bit, maybe the stupid algos are realizing what dumbfucks they were on Friday and are dumping the ES, as God intended.

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Trump PEAKED with his silly little speech to Congress in February when the mass media desperately tried to pretend that, gee whiz, maybe he’s not psychotic. It’s all downhill from here folks.

Oh, and if you think I’m against the guy, I’m not. I support him fully. He’s just what I’ve been waiting for to push the globe into unchecked financial pandemonium. So I’m a fan! Go get ’em, ya orange freak.

Across the Finish Line

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I have mentioned Finish Line (FINL) again and again and……….again!………as a short candidate, both here on Slope and on tastytrade. Well, the analog I’ve pointed out ad nauseum is really kicking in, dropping nearly 20% on Friday alone.

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As is so often the case, my charting was brilliant and my trading was idiotic. I covered this thing earlier in the week for reasons I cannot fathom or even remember. I guess I’m simply the ghey. But in spite of my personal idiocy, I am pleased to have offered up another terrific plunger. Much lower prices to come.