Since the market has gone from records highs earlier this morning to an utter collapse of -0.05% on the SPY as I am typing this, I thought I’d offer some helpful counsel: (more…)
I’ve been online for over a third of a century, starting with a 300 baud modem and a BBS. During the latter portion of that timespan, the age of the Internet, I’ve been exposed to countless thousands of ads, increasingly customized to my habits, purchases, search engine requests, and whatever else can be ascertained about me by my online activity.
Starting a couple of years ago, I started noticing something odd about the web sites I visited. And here she is:
Hey, folks, let’s make some NOTES in SlopeCharts!
The entry of text notes, launched last night, is the “input” that Slopers contribute. The “output” is just as interesting, however, because you can search through the text notes of all Slopers to see the charts they have posted and what their annotations are.
There’s one problem, though – – there’s hardly any notes yet, because this is a brand new feature! So I’m going to do my part and start going through all my charts, annotating them copiously. We’d all appreciate if you’d do the same with your own charts. (more…)
That’s something I’ve got in common with Private Pyle: he wants to be different. For whatever reason, I’m a contrarian to the core. Indeed, one of the appeals of messing around with personal computers back in 1980 was that practically nobody else was doing it (in case you hadn’t noticed, the unusualness of microcomputers vanishes decades ago, so that aspect of the appeal is likewise gone).
Before I begin, I wanted to mention how long I’ve been looking forward to the start of October. I’ve been lining up engineering talent to revitalize Slope and also bring some serious strength to SlopeCharts, and that all starts happening Monday. As a person who has lived his life creating products, I couldn’t be more excited about this “new era” of Slope commencing.
As far as the market, I couldn’t be less excited. This is pretty much as bad as it gets for an ursine soul like myself………lifetime highs everywhere, a raging small caps market, and a VIX in the single digits. Absolutely soul-crushing.
I’m not the sort of give up (ummm……..obviously) and I have, in fact, put together five options positions based on one simple premise. I’ll get to the premise later.
For now, let me show you the five positions in question. They all have these elements in common: (1) I own puts against them (2) the puts are in-the-money (3) the options expiration is way out in January 19 2018 (at least), giving me tons of time. (more…)
I will start off with a chart that, in a sea of tens of thousands of charts, stood out as shocking: