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.
Well, July is over, and I couldn't be more happy to see it end. This month absolutely stunk up the joint. It will be remembered for two things, both of them painful for the bears:
- The ridiculous head & shoulders tease, which probably convinced 95% of T.A. newcomers that charting simply doesn't work; and
- The surge across the board to new 2009 highs.
Here are the cold numbers:
- S&P Gain for the month: 7.39%
- S&P Gain for 2009 thus far: 9.29%
- Tim's biggest account for 2009 year to date: 14.2%
- Tim's second-biggest account for 2009 year to date: 40.4%
Regular readers know I have four accounts, but two of them are kind of puny, and I only track and chart the two big boys.
I'm glad I'm still ahead of the market, but I am not pleased with those numbers at all. I lost a lot of ground in July, and for the love of God, I work wayyyyyyyyy too hard at this to be up only 5 points better than the stupid S&P 500 index. I don't mind working hard for triple-digit returns. But this? Kee-rist. Mr. Market, you owe me a ton of money for the rest of 2009 (OK, OK, don't get your pants in a wad, Slopers; I'm just kidding).
I'm not the only one feeling discomfited by July's insanity. My friend and fellow blogger molecool went on a furious bender in Manhattan last night, and a crude snapshot making its rounds on the Internetz is almost certainly him, as he's known to favor white briefs.
But……."we'll get 'em next season", right, folks? I hope "August" lives up to its name. In the meantime, we close the books on 7/09 and move forward, hopefully wiser for the wear.
I'm ashamed to admit it, but over the past 20 hours I've done a couple of quick seat-of-the-pants /ES long trades, both at a profit. I've highlighted the areas where I was long. It wasn't a lot of money, but it was kind of fun. One has to do something to while away the hours during this idiotic day.
Today is so weird. The /ES is completely spasmodic and locked into what seems like a 3 point trading range. Can we just close the market today and re-convene August 3? Anyway, I've bought a couple of stocks whose basing patterns I really like.
I don't know if I'll do another post until the close, because the market is so danged weird and boring.
I'm relieved to see that both the President and the Vice President are spending their time having beers with (a) a policeman doing his job and (b) the combative professor whom he arrested. That way, the hundreds of billions of dollars in taxpayer money being paid to investment bankers will go unnoticed.