Phew; I'm always wiped out at the end of the week. It's time to focus on the yuletide season. I'll do a post this weekend sometime. Godspeed to you, and see you then……….
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.
Victory!
| The Winning Way |
The Losing Way |
| Flexibility and Openness | "Commitment" |
| Keeping Stops Updated and Sensible | Having no stops or poorly-placed stops |
| Well-Organized Trading Ideas | Disorder and Chaos |
| Boyish Good Looks | Ogre-Like Visage |
Bad News—>Up Market?
My decisions to:
- Cover my ES shorts at ~822
- Sell my Russell puts
- Go long DIG and GDX
all seem to be, so far, well-founded. Of course, my "well-founded" trades sometime seem idiotic the next day, but that's what stops are for, right, mates?
But the cold fact is this………and those heavily "committed", take heed………just about the worse imaginable economic news was issue this morning, and the market has flipped from down hard to up big.
Anyone who has studied the markets at all knows this is a powerful indicator of higher prices to come.
A bear could not have wished for "better" news this morning, but it looks like the markets are going to end in the green today (I am typing this 70 minutes before the close). Take heed and respect the facts before you.
Slippery Slope
Sorry to upset any of you, but I'm buying DIG again. My stop price is obvious (21.41), but to me, it's the safest long right now. I did very well on ES today, and being overly-committed to the short side right now strikes me as overplaying one's hand.
Spotlight Session Today
Please note that I'll be doing a spotlight session half an hour after the close today.
Also, for what it's worth, crude oil is now at the 23.6% retracement on its entire Fibonacci sequence (starting back when crude oil was about $10 a barrel!) I've been burned by commodities lately, since it seems they have absolutely no floor (in sharp contrast to, oh, this summer!) but it's worth acknowledging.
