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.
Jumping Back In
My decision to exit my puts this morning turned out to be spot-on. IWM's pause at Fibonacci support was a picture-perfect exit.
However, we have traversed all the way from the 50% line to the 61.8% line, so I'm comfortable getting back in again. My other 65 positions have been happily sitting there. But once the IWM got to about 69.10 I felt it was safe to get back into the water. The graph below shows where I got out (the green circle) and where I re-entered (the red circle).
The New Adventures of SuperWimp
This morning, I closed my index puts on $NDX and $SPX. The profits were nice, and I don't have any concrete reason for doubting those profits might increase, but the notion of a consolidation and breakout from these levels worries me too much.
I haven't had any time to check my charts out this morning, but I'll let my stops do their work. By the way, one gent asked if, based on my "no activity in first 30 minutes of the day" rule, if I canceled all my stops each morning and re-established them half an hour into the open. The answer is an emphatic "no!" By "no activity" I mean for a goober like me to be messing around. I am perfectly happy to let my stops stand sentry day and night. That's what they are there for.
