Oh, America does love its fads, doesn't it? Consider these charts the next time you're thinking of hopping onto the next hot new wave.
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.
Lost Highway
Well, OIH got terrifyingly close to my stop today (my stop: $195; high of the day: $194.87……yeesh) and then backed down. IWM is likewise (as of this writing) backing down. Good on both counts.
So long as I'm freaking people out with Lost Highway clips, here's another object lesson for those of you that tailgate (fair warning: NSFW).
Simple Strategy
My strategy at this point is quite simple. First, as for my index puts, I'm going to get out if the Russell crosses above the red circle, and I'm going to amplify the position if it goes beneath the green circle (if it does neither, I'll just sit tight). And didn't the $RUT do a beautiful job yesterday of touching its Fib line?
As for my multitudinous energy plays, I'm going to get out if OIH crosses above $195 (which it seems entirely capable of doing).
In the meantime………..
Updated Pages
OK, I've updated a bunch of "Pages" (look in the upper-right corner of this blog), plus I've added some new ones. Check them out! And that, my friends, is all for the evening.
Lightening and Tightening
The market's true direction will be unveiled over this week and next, as earnings tumble in, but in the meantime, I'm either taking some profits or tightening up my stops for safety's sake. I took my Russell puts off the table early in the market day when the IWM was at 68.45. The momentum of the market seems to be dying, but judging from recent history, a bounce is a definite possibility.
