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.

Be Prepared

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I am having a chart party tonight, and I'm the only one invited. I am so mad at myself for not being better prepared. Don't misunderstand – today is going really well, but I am really out of touch with new trading opportunities, so it's time to set things straight. I need to get organized.

The market as it stands now is very, very sick. I'm going to take a chance and try to post a chart in my blog again:

What should have happened on January 6th is a breakout above that thick blue line, if the bulls were to have any a little bit of a chance. That completely failed. My long positions have been blowing up left and right (my IRA is down to a mere 15 positions, 2 of which are ultra-inverse); thank goodness I "tilted bearish" pretty heavily starting a week ago.

I don't have any more trips planned in the foreseeable future, so hopefully I'lly be back to my usual bloggy self. I'm waiting for a plane right now, and it may be another very late night post, but after tonight, no more excuses.

Increasing Energy Exposure

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I like the bounce of the /ES off 832.50 – – very clean! With Obama feel-goodness coming up on Tuesday, and some rapid-fire, very high profile "help" he surely will offer the moment he sets foot in the White House, it's important to be prepared for the possibility of a rally. The drop over the past six days has been marvelously profitable (although I would have preferred super-duper marvelously, but that's my own dang fault). I've doubled my position in DIG and am entering a new position in DXO (purchase price: 2.85, stop price 2.42)

I remain at corporate headquarters and thus may be pretty silent much of the day.

Bounce Trade

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There is probably nothing more boring than hearing about a trader talk about "the one that got away," so I really try to avoid such things. I will express dismay at closing out my /ES so early. My short was beautifully timed, at about 873 yesterday. But I got out at 860 (in one account) and 850 (in another). We plunged hard, and now I am long 20 ES at 834 with a stop at 832.

My DIG hasn't been stopped out yet, although it's taking it on the chin. I am actually adding to this position, since I still think any bounce is going to take energy up with it big-time.

Flat-Footed

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Another sensational day on the market. I'm really down on myself, though, because I have a mountain of "undeployed" cash on the sidelines (about 30% of my entire portfolio), plus I eagerly took my /ES profits at 860 and 850, only to see the market continue to fall.

The main reason is that I'm so behind on charts. I haven't looked at my entire block of charts in days (which for me is like going without oxygen), so I imagine I am really blowing this move by not fully participating.

Thus ends my therapy session. Time to look at charts. I'm a mess…….