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.
September has a reputation for being the best month for the bears. Well, the market's up for the seventh month in a row so – – as the kids say these days – – "not so much."
I'm going to be quiet for the rest of the trading day, as I'm profoundly busy. See you after the close.
Remember earlier today how I pointed out a "zone" that was the bear's worst enemy? Well, I was right (and thank goodness I closed out the Russell puts!)
Well, the shoe's on the other foot. The bulls have their own enemy to worry about now, and it's much bigger – shown in green below.
I am reloading by purchasing $RUT puts at these levels, and I am scaling into a very large TWM position.
This seems like one of those days where all the action is compressed into about five minutes, and the rest of the day is a slog.
As we were "drilling down" into the zone I mentioned in the previous post, it became apparent to me we had hit some bedrock, so I closed out the Russell 2000 puts I bought yesterday. Here was the result:
Very nice! A 20% profit in one day, and without an undue amount of risk. These are the kind of straight directional trades I love. I'm still wild-eyed bearish on the Russell, but I'm going to wait for another good entry point.
For the moment, I took a big long position in GLD – – it's my only truly large position at this point. Let's see if we fight our way back up to about 1052 on the /ES or not.
I am going to be out of pocket for a couple of hours as the market has suddenly become profoundly interesting again. Those Russell 2000 puts I bought yesterday are setting the world on fire. Yow-hoodle!
We need to "drill through" the tinted area; that zone is the bear's enemy right now. Break it, and let the games begin.