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.
Oh my God!
I'm down 16% from my peak! I will never recover! That is an absolutely impossible task!
Equities are again in a secular bull market, and it will be years before we get a downturn!
The creation of trillions of fake dollars has reversed economic catastrophe, and Tim Geithner will get the Nobel prize in Economics………just after Ben Bernanke gets the Peace prize.
The bears are doomed! Doomed, I tell you!
Back to the charts………..Sheesh, what a day. I just needed to say that.
Last night, I started reading Brett Steenbarger's book, Enhancing Trader Performance (because, God knows, the prior eight days I've felt like I could use some real enhancing).
The first chapter starts off with a couple of traders, Al and Mick. They are both trading the e-mini S&P, and they're both having rough days. The first one, Al, keeps his cool, changes his strategy when needed, and steps away from the markets for lunch to collect himself and do better when he gets back. The second, Mick, is furious with himself, angrily re-analyzes his mistakes to zoom in on where he screwed up, and in general seems like a psychological mess.
The surprise is that Mick is the one who's actually a really successful trader. I imagine most readers, like me, were expecting Al to be the hero. I'm only one chapter into the book, so I'm intrigued to learn more about this paradox.
You can imagine I'm having an absolutely horrible day in the markets. I am eerily calm about it (like "Al", which is distressing, I suppose). I imagine, even years from now, I will regarding my failure to take advantage of the rise from mid-March to now as one of the biggest mistakes of my trading life. But what's done is done.
At this point, I'm going to clear my mind, go through all the charts again, and find out what I see. The bulls are having an absolutely field day, though. Incredible.
It perplexes, confounds, and nauseates me to consider the possibility, but we could be emerging in the "all clear" mode for the bulls. The plunge in early October 2008 was very, very fast, and there's just a wide-open meadow just above current levels. I am getting mauled today.
Good morning, everyone.
I woke up this morning to discover my database administrator had inadvertently blown up all my portfolio data, so I'm in the process of reconstructing it.
It shouldn't take terribly long, but I wanted you to know where I was, and I figured it was time to take Mr. Orbison off your screen.