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.
Just a couple of quick observations. First, VIX is showing that complacency has utterly taken hold. We are at the same levels seem ten years ago. We are nearly 75% off the highs on the VIX seen last autumn. What a plunge!
The market today is quiet and mixed compared to the rest of the week. Looking at the MDY, I would still say things are vulnerable, so I haven't found any great bullish opportunities. I'm laying pretty low right now, and nursing my wounds from earlier in the week.
I've thought a lot about my TBT trade earlier this week, and I've considered why it made such a good trade. From a charting perspective, the risk/reward was really marvelous. The entry was good. The exit was terribly short-sighted.
My opinion is that OIH is similarly situated. As the chart shows below, OIH broke its uptrend very plainly, and it retraced back up to its broken trendline. A stop at 100.98 would be about as wide as I'd make it.
I'll start off with a minuscule bit of good news – I figured out how to make it so that clicking the logo sends you back to the Slope home page. A technological breakthrough! Anyway, some people have asked, so there you go.
I quite obviously have been getting out of sorts this week, so I dusted off my copy of Trading in the Zone and am re-reading it. I'm only halfway through at this point, but the main takeaways so far have been:
Good luck today.
