I'll do a real post sometime tonight. I'm going out on a hot date with Mrs. Slope, so it might be quite late. Who knows…..

Before I begin, I want to say if you haven't read the Do Good post yet, please do so. Thanks.

One of Slope's long-time beloved contributors is 2sweeties, and he has created a new site called Retracement Levels.

It's a pretty cool site, although I strongly urge you to watch the brief video tutorial in order to have some idea how on earth to use the system.

Now, you might be saying to yourself, "Why is Tim telling me this?" You might even say it out loud. If you're at work, you might cause people to stop what they are doing and wonder (a) why you are talking to yourself; (b) who Tim is; and (c) how his hair gets so lustrous. Dismiss your colleagues. They're just going to get in the way of your own plans.

Well, the motivation, if you must know, is a royalty. Given the popularity of this blog, I demanded – – and 2sweeties agreed to – – a full 50% commission on all sales in perpetuity. Given that his site is completely free, I'm not counting on much at first, but I figure I can make it up in volume.

So go check it out. It's pretty cool.

Today was another great day for the bears. So I want to ask you to do something.

I'd like you to give some of your profits to someone or something that needs it. If you don't have any ideas, may I suggest Best Friends Animal Sanctuary, where I just forwarded some of my own trading profits?

It's not enough to believe in the moral superiority of the Slope Army. We have to live it. 🙂 So share some of your profits with an organization that can help someone less fortunate.

Thanks.

A fantastic day so far – perhaps the best in my life. I want to say thank you to everyone who comes here and contributes. We are what makes Slope great! Thank you so much!

I'm not trying to turn this into a e-mini blog, but I want to make an observation.

Once the ES hit its retracement, I kept buying it. But I'd get spooked every time it softened. My account was getting ground into hamburger, and I was tired of losing on this, because it would never break out.

When I noticed how the NQ was behaving. It was rising whenever the ES would rise, but its rise was more feeble. Plus, it had a ton of air beneath it, since its own Fibonacci retracement was far, far below current levels (as I pointed out early this morning, several posts ago). So – duh – I decided to just stick with the NQ short and be done with trying to get into ES.

In other words, I think each attempt the ES makes to break above its little basing pattern is simply another good time to short the NQ. I'm keeping my NQ stop at 1333.