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.
Tim the Bulltard (Update: Flip-Flopper)
The same caveats as always……….take it as a contrary indicator………..call me a traitor………and so forth. I'm buying SPX calls. I think we're in for a bounce. And I'm going to try to have the discipline to stick with it for more than, oh, a day this time.
Dow Approaching 38.2% Retracement
I have been relatively ham-handed this morning. I've got a ton of profits, but I bailed on my $RUT puts about $5,000 too early (e.g. left money on the table). I am, as a bear, nervously watching the $INDU (which is at new yearly lows this morning) approaching its 38.2% retracement level. It's a fantastic morning, but it's unnerving.
It's especially difficult for me since the $RUT seems to have plenty of downside left in it. What to do, what to do!!!
Circadian Error
My usual morning routine is:
5:30 a.m. – Son wanders into bedroom, gets me out of bed
5:30 a.m.-6:30 a.m. Catch up on emails, look at charts, tidy up house – generally be prepared for the day
6:30 a.m.-7:00 a.m. Watch the market and assess the lay of the land; consider what stops to update, if any
7:00 a.m. Well-prepared for the trading day
Today, instead, it went more like this……
5:00 a.m. – Son tries to wake me up; I tell him it's too early
7:00 a.m. – Eyes open, glance at clock, I see the market has been open for half an hour; I fly down the stairs. I see all the indexes are way down, but I have no idea what has happened the past half hour, no idea what the charts look like, and no time to prepare. ARGH!
After a very hasty glance at the index charts, I bailed 100% out of my Russell puts and IWM puts. It is very rare I screw up like this, but I'm off to a late start. The morning is good so far, and I'm trying to determine if I should go long anywhere. Feh!
