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.

Blog Bailout

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When I got the registered letter from the Treasury Department, I was naturally concerned. But the plans they laid out inside gave me a welcome sense of relief. It turns out that our government finally recognizes that plenty of financial blogs out there, mine included, have done some posts in the past which were subprime. On the whole, there are bad grammar choices, clumsy prognostications, jokes made in poor taste, unsettling images, and offensive comments.

I've never felt comfortable actually deleting any old posts, since I believe my writing should stand on its own, but the government has offered to buy up these "toxic posts" and bundle them together into one large Bad Blog. Of course, Slope isn't too severely affected, but some blogs are. The Fly's blog alone has been weighing on the U.S. dollar for months, and the rampant misspellings over in Lindzon-land were part of the chaos behind this autumn's plunge in energy prices.

I, for one, welcome our new Treasury overlords. And I will leave you this quote from Cicero, dated 55 B.C., sent to me this morning by a thoughtful reader. It goes to show you just how wise we've become over the ensuing two millinea.

"The budget should be balanced, the Treasury should be refilled, public debt should be reduced, the arrogance of officialdom should be tempered and controlled, and the assistance to foreign lands should be curtailed lest Rome become bankrupt. People must again learn to work, instead of living on public assistance."

Out of ES

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I have shuttered my /ES short at a loss, because I am far, far too concerned about what might be next out of this pattern:

The pattern could fail, obviously, but even though I trade actively, I am not into gambling. I would rather wait for a better entry point, should one materialize.

At this point I am about 50% in cash (which for me is a very high percentage); my commitments are all on the short side, with the exception of my IRA account, which, as usual, is a bunch of little bullish positions.

From all corners, I am hearing about what a hard market this is to trade. It makes October look like Kindergarten. I think we're all pretty sick and tired of it. But what can you do? Just wait until a clear opportunity appears. Simply hoping things will go one's way isn't trading – – – it's more akin to what they do in Vegas.

Driving Events

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What a complete ridiculous day to trade! Up, down, up, down, up down. The /ES was grinding around 843 (plus or minus a few points) so long that there's a deep trough dug there. Ah, yes, and as I am typing this (the market closed just a few seconds ago), the /ES is dropping again. Treacherous! Nuts! Anyway………..at least the rest of this week will have some events that will give people a reason to buy or sell.