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.
What do we want? A crash!
When do we want it? Now!
What do we want? A crash!
When do we want it? Now!
Of course, the real magic is going to be figuring out when we've bottomed out. Today has been an unending series of making a tiny bit lower lower and then skootching up again. But if we can figure out a level that is anywhere close to the bottom, it'll be time to take all these marvelous profits and buy stocks like crazy.
We're going to give charts another go; one of our engineers has directed me to a different chart server. My shorts are doing dandy today, and I'm pleased to see my "Bear Air" suggestion from yesterday it already started to bear fruit.
Since I started doing e-mini futures trading, far and away my biggest flaw has been getting wound up in the tick-by-tick motions. It's more important to keep your eye on the big picture. Here is the /ESZ8…..
The simple fact you can see here is that we've got a very substantial and plainly-defined bearish engulfing pattern following a spinning top (day of indecision). Of course, the day isn't over, but as of this writing, that's what I see.
The Bad: it's been an absolutely hellish week on the technical side. We are experiencing profoundly complex networking/data platform problems. The whole crew has been working ~18 hours/day trying to fix it. So I've turned charts off on the blog for now to lighten the load on our servers. Yuck.
The Good: Perhaps wave "e" is behind us now; I sold a ton of ES as it approached 920; it seems 923.25 is a good line of resistance, so that's where my stop is.
So, again, don't expect any charts on the blog during market hours today. We'll have to content ourselves with sharing our views textually! Although I still can post images! Looks like my BIDU short idea is working out nicely.
Early this morning I closed out my DUG, QLD, and SDS. Basically all my big positions. I am hunkering down while "wave e" blows over our heads. I've adjusted my trendlines so the oft-mentioned triangle is more conservative and is, once again, unbroken.
For you TMBG fans, here's a little apropos entertainment while we wait.
