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.
Earlier today, I bought TWM (the ultra-bearish on Russell) and got out soon after (bought at 10:05 EST and sold at 10:35 EST) for a quick $1k profit. Since then, I've been steering clear of IWM until just now, when I shorted a substantial sum of IWM at 64.13. I've set my stop-loss at 64.43.
Google AdSense remains omniscient. In my prior post, the mere mention of the word "manifest" yielded undesirable results:
Insatiably curious as I am, I clicked on them to see what all the fuss was about. God in Heaven……it's worse than I imagined (and I'm not even talking about the failure to capitalize "I"):
Of course, even with the apparent ability to hop universes, the rent still must be paid, so……..
"People are bloody ignorant apes." – Estragon.
I'm a realist. I try to see things as they are. Given the nature of the world we live in – – or at least the United States – – this puts my disposition at odds with a meaningful portion of the population. I'm not so much a permabear as a permarealist, but the effect is often the same.
Decades ago, when I worked at Apple, they would spend all kinds of money on "inspirational" speakers and expensive "corporate bonding" outings. As Apple fellow Alan Kay once remarked back then, "What Apple needs is fewer off-sites and more insights." How right he was.
Last night, I finished Bright-Sided, whose subtitle pretty much tells you what the book is about:
I thought the book was terrific. I enjoyed it, and I strongly recommend it.
Given the doe-eyed, botox-based, smiley-faced culture that some Americans strive to create, this book was truly refreshing. Our nation has produced a hoard of both religious and secular charlatans whose mission is to separate you from your money, but whose ostensible purpose is to teach you The Secret, create "abudance" in your life, and giving you the power to "manifest" anyone and anything you desire. It's a giant, steaming pile of crap.
As the line from Hannah and Her Sisters goes: "If Jesus came back and saw what they were doing in His name, He'd never stop throwing up." Amen to that.
I've seen this Osteen character's books now and then, with his curly-haired mullet and pearly-white teeth, but I never wanted to pick one up. Having read Bright-Sided, which mentions Osteen's Lakewood Church prominently, I was curious, so I went to their web site. This, seriously, was the first thing I saw:
Well! No wonder it's such a popular place.
Seriously. Buy the book. Embrace reality for what it is. Make the occasionally bits of happiness that truly do appear in life genuine, deep, and memorable. Mindless positive thinking is an empty lie.
One of the rules avid traders recognize is that time in the market =
risk. Of course, the objective is to make the most profits in the
shortest amount of time, minimizing the time active positions remain in
the market unless profit objectives are being met. Volatility is a
trader's friend.
Many traders adore the Euro/USD futures contracts (6E or EC ticker
root symbols). They're fast, volatile, and can generate big returns (or
losses) in a matter of minutes.
Newer traders are lured by availability – Euro/USD futures can be
traded round the clock, 23 hours a day, 5 weekdays a week, and Sunday
nights. But, that doesn't mean they should be traded round the clock.
Like any instrument, 6E has its high and low volatility periods.
Trading 6E during low volatility periods can be an exercise in
frustration, with frequent stopouts or wider than comfortable stops,
only to see profit targets ultimately hit.
Recognizing 6E's 24 hour footprint is useful in picking the best
times to trade this unruly beast. The attached chart averages the past
year of hourly 6E pip ranges. Average hourly ranges are based on the
difference between the highs and the lows of each hour in the 2009
trading year.
When we trade 6E, we want to see motion, in a trending market, that
gives us the best opportunities for hitting our profit targets, quickly.
News events can cause large 6E price spikes any time of day, but the
averages are interesting. Certain times of day are 2-3 times more
likely to offer movement than others.
To that end, three times emerge throughout the day as some of the best times we like to trade 6E.
* 2:00-3:00AM Eastern, as London and Europe sessions open
* 9:00-11:00AM Eastern, as the NY session opens and reacts to USD moves
* to a lesser extent, 7:00-8:00PM Eastern, as Asian markets open
Lately, 6E has had a tendency to remain dormant during many
afternoons, resulting in price action that does not always justify the
risk:reward for new positions after lunchtime in the US. Might as well
book profits, protect swing trades in the morning, then take the
afternoon off.
Recognizing the times of day that 6E is most likely to yield liquid,
volatile ranges that present trading opportunities can help traders
structure their trading days, minimize risk, and reduce unproductive
time in the market.
