As the headline to this post suggests, I’m not going to write about charts or the stock market right now. I certainly could, because I’m actually enjoying trading more than I have in quite some time, and I am very heavily exposed with 64 positions using over 200% of my portfolio cash value. However, I don’t have anything especially new to say, so I’d rather lay out some thoughts that occurred to me – – when else? – – during a dog walk.
As I was strolling along in the chilly pre-dawn hours, I asked myself how much good college has done for me. It didn’t take me long to conclude: zero. Some of you know that I graduated from college rather swiftly (in just 2 1/2 years), since I was eager to get into the world of work. The information I garnered during those 2 1/2 years hasn’t been useful to me even once during the many years since I graduated, and there isn’t a single contact I made in college that was beneficial to me in any way at all.
As I begin my Trip of Mystery, I feel the need to apologize.
This emanates, i suppose, from a terrible incident last night. I was driving in the evening hours with my family when a black cat leaped directly in front of my car. I hit it and, I’m sure, killed it.
This just broke my heart. I am not the killing type. With the exception of mosquitoes and flies, I try to do what I can to preserve living things. Over the course of my life, I have removed with my bare hands countless spiders and insects from inside the house (usually walking in the bathtub or sink) to the outdoors where they can live out a normal spider or insect life. If I’m walking a spider from a second floor bedroom to gently place it on a Camellia leaf outdoors, I’m surely not going to want to kill a fellow mammal.
Since Slope Plus factors into this post, I’ll mention this one last time .……..a coupon to Slope Plus for those of you considering it. I am offering a free month for you to try the service by clicking on this link. When you do, type in the coupon code winter2017 and it will give you the first month for free.
Note that this coupon is only going to be working for a few days, so don’t lollygag. Also please note this discount works for ANNUAL subscriptions as well, so you’ll save the most by going for an annual, since you get two months free already.
Besides all the normal extras you get as a Slope Plus subscriber, you’ll also be getting the very best ideas I’ve got (many of which have been doing really well, even in this market, as you’ll see once you have access). I hope you’ll give it a try. On with the regular post now…………
I have, over the long lifespan of Slope, mentioned some emotional scars from childhood during that period of time when it seems virtually everyone in my generation had a complete suck time: middle school. It seems that a few random verbal assaults of “fag” or “dick” can persist for decades.
Ah get born, keep warm
Short pants, romance, learn to dance
Get dressed, get blessed
Try to be a success
Please her, please him, buy gifts
Don’t steal, don’t lift
Twenty years of schoolin’
And they put you on the day shift
The alarm I set for myself at 4:10 a.m. chimed, and I climbed out of bed to take one of my children to the airport. He’s off to a conference at Harvard, and we can look forward to seeing him again late Sunday night. Yet on Monday morning, at the more reasonable hour of 6 a.m., I’ll be driving him again to the airport to head to Costa Rica for a school trip.
Since its President’s Day, I think I’ll write about something Presidential. And this quote from our patron saint George Carlin is absolutely crucial to the piece:
“When you’re born you get a ticket to the freak show. When you’re born in America, you get a front row seat.”
See, I want it crystal clear at the outset that there is nothing political about what I’ve got to say. Our nation is deeply divided along political lines – – the worst I’ve ever seen – – and I can write or tweet about just about anything under the sun without repercussion, but the moment I so much as mention the word “Trump” without words of gushing adulation next to it, some Duck Dynasty-watching mental midget flips out.
I’ve been so busy this afternoon, I’ve been racked with guilt about not being able to sit down and do a post. But here I am, so I’ll get on it…….
The bear market was supposed to really kick in full-force a year ago. News flash: it didn’t. Allow me to show you what I mean by this.
Before I get into the Trade Idea, I’m going to review the context of the S&P500 from a structural standpoint and a typical deviation standpoint. First of all, structurally, the Weekly and Daily charts show higher highs and higher lows, the very definition of an uptrend. In November of 2016, the SPY completed a $20 wide trading channel of which currently price is a stone’s throw from its high resistance. The channel would suggest that buying potential is limited.
Now, anyone who hangs around the comments has seen that I use 5% simple moving average envelopes around a 100MA as a measure of movement potential (oversold, neutral, overbought). Where are we now? Yep, hit it on Friday. Again. (Click on any chart to see a larger version).