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.
Quite a day, quite a day. As I've said before, traders are never happy. This is one of those days where I'm thinking, "Oh, if only I was more exposed!" Because I have had 75 – count 'em, 75 – short ideas waiting in the wings. But I'm not inclined to chase prices downward.
But my array of 91 short positions – every blessed one of them short – are doing fine and dandy, thank you very much. I'll probably do another video update after the close.
Godspeed, intrepid Slopers!
I have been buying and selling millions of dollars worth of GLD, SSO, and TWM all day, with very good results. I am – at the moment – buying up a big ol' hunk of SSO (the ultralong S&P ETF), but it's just a day trade. I've set the stop at the day's low. Having a really, really good day in both directions.
Obviously a very good day here on Slope (the paucity of my posts notwithstanding). My general feeling? I want to see one last gasp upward from here. Doesn't have to be to new highs. Just one last attempt higher. I have a mountain of great shorts, but I'm not going to be chasing them down in price. I'm holding off on going bat-sh*t crazy with my shorts until we get a lift, although my current positions I am holding.
The break in @NQ is another encouraging sign.
I apologize, but I have to focus on the markets right now. I might not do a post until the day is over. So don't be surprised if there are a thousand comments here. Slopers generate awesome content, so I feel you are in good hands. See you later………….
An alert reader sent me this video from the Yahoo Finance Tech Ticker. In it the fund manager by the name of Hennessy states that the Dow is certainly going to double in the next ten years. His irrefutable logic is that the money "on the sidelines" has nowhere else to go. Oh, and Japan's equities are going to do really well too.
Well, he's being interviewed, and I'm not, so I figured I'd check out the performance of their flagship fund. I mean, after all, the guy could be on to something. Here's their fund versus the SPY:
So…………his fund tracks the S&P and actually underperforms it? Wow. OK. Interesting.
Well, it's probably going to be another day where (a) I'm not posting that much and (b) there are a bajillion comments in each post, so you'll need to embrace that, accept it, and move on with your life. It's a good start so far today. May the force be with you.