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.
Another Moment of Truth
Out of my ten NDX puts (all of them November, deep in the money), I sold three because we got near yesterday's lows. Let's see if we break yesterday's lows. If we do, oh my Lord. If we don't, we might see a bit of a bounce here. Thus my taking of 30% of my position off the table.
Some Concrete Ideas
OK, this won't be an update on my psyche or sleep patterns. Here are a few bearish ideas, with the following suggested stops: CELG (61.17), CEDC (42.78), and COST (62.29). As much as the market has dropped, I still think these are great opportunities.
Special thanks to Ben Bernanke for helping push things down further.
Meeker and Weaker
Even Mr. Bear here is stunned how short-lived the, errr, "rally" was. It lasted from 2:46 p.m. EST on Monday (Dow low 9,525) until 9:42 a.m. EST Tuesday (Dow high 10,121). Six hundred points on the Dow in less than 2 hours is nothing to sneeze at, but (Achoo!) this is pretty weak, buyers!
In any case, as I said, I hung on to all my equity puts, and they're doing great. I got out of my index calls this morning (high five, J.C.!) And I've got one humongoid large NDX put position now. Plus a semi-humongoid one on the OIH.
How much pleasure can one bear take?
Feeble!
Wow. This rally is pretty lame. I'm out of all my big call positions (OIH, NDX, QQQQ). I did really well on them, because I got them at great prices yesterday. I managed to sell the NDX at just about today's top. But this rally is completely feebed-out.
I've actually gone ahead and entered an NDX put position, setting the stop at yesterday's high (1440.19). We'll see how it goes.
