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.
Something So Right
I am reminded this morning of Paul Simon's lyrics……
When something goes wrong
I'm the first to admit it
I'm the first to admit it
And the last one to knowWhen something goes right
Well its likely to lose me, mm
Its apt to confuse me
Its such an unusual sight
Oh, I cant, I cant get used to something so right
Something so right
Everything is going my way. I've got over 80 equity positions, most of them in oil and gold, and those are going fantastic. I had no index positions, but when the market briefly bounced higher this morning (actually into the green), I bought a huge block of Russell 2000 puts.
Thus, I am skeptical and in a defensive posture, since the stars rarely line up quite this well.
For the moment, I'm going to take my profits on my Russell puts. I am thrilled with how my commodity-oriented puts look, however, and intend to hold on to them for what I hope are huge forthcoming gains.
Why Not Indexes?
Someone asked in the comments section last night why I didn't have a single index put if I was so bearish.
An excellent question, and I have an answer. I simply believe there is a lot more potential for downside in charts (and those in their sectors) that look like these:
As opposed to indexes, which seem kind of wrung-out to me right now.
Wake Up
Well, the jobs report came out moments ago, and as I'm scanning the pre-market ETFs, they are down about 1%. Well, I guess at least we're not going to get zapped at the opening.
As for this picture, I figure it's a good way to shock you into being fully alert and awake for the trading day ahead. You're welcome.
