Good morning, American Komrades,
Yesterday evening, I was bringing my little girl to her gym class, and I saw a friend of mine there with his computer. "I was just reading Slope", he says to me, only reminind me of how remiss I have been about doing the same thing. It's ironic that I'm not reading my own blog. (In my defense, I was clutching another thick book that I had to read for my CMT examination this Saturday).
Anyway, here I am again, in the pitch-black dawn, adorned in my handsome fuzzy bear-colored robe, looking at what the markets are doing. We continue to grind away aimlessly, although at least for the immediate moment somewhat to the downside.
I've tinted the successive "steps" of resistance from which the market has fallen away.
I still have a grab bag of longs and shorts. I actually got rid of a number of longs yesterday, not because they had produced amazing gains since I bought them on Friday, but because they failed the "what were you thinking?!?!" award. Indeed, as I look at my ownership of such flea-bitten dogs as JAVA and TXN this morning, I must ask myself again the same thing.
Ah, well. My largest positions are QID, SDP, and some NQ puts right now, so I'm not entirely out of step.
