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.

VIX and MDY

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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!

0716-vix

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.

0716-mdy

OIH is the new TBT

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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.

0716-OIH

Home

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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:

  • Absolutely zero blame – you and you only are responsible for the results you attain from your interaction with the market. Credit and blame go nowhere else. Not the PPT. Not Goldman. Not the evil leprechauns. Just you.
  • Fearless – the book goes to great length to discuss how to make the market something of which you are utterly unafraid. This is the key to giving yourself an absolutely neutral disposition toward the market. It isn't a friend. It isn't an enemy. It simply is.

Good luck today.