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.
The National Nightmare is Over
As pleased as I am with my shorts, I want to have a bit of insurance once the bounce comes (which could be either next minute or a week from now – nobody knows). Earlier today I bought a huge slug of DBC for just that purpose. I've set my stop at 23.29.
I'm going to be offline for a few hours. Catch you later.
Grassy Knoll (by Fayssoux)
Mention that the Fed may have been engineering equity price outcomes in polite company and you will be scorned as a wacky conspiracy theorist. Earlier this month, the people at Trim Tabs went public with the observation that they could not see where the money flow was coming from to explain the 2009 rally, and suggested maybe that the "plug" involved the Fed.
The Contrary Investor, a subscription site I gladly pay for year in and year out, put up an intriguing and well argued piece last night that shows how this "plug" might have worked. In short, the Fed conveniently times its MBS purchases for option expiration week, liquidity provided therein to TBTF banks goes to their prop desks, up go equity markets. Repeat each month.
Stabilize the housing market, get 201(k)s back to 301(k)s, and we will be in the clear. It certainly seemed to be working. Oddly, the resentment against GS prop desk profits may in fact reflect deep-seated public resentment against the stock market ramp, which retail investors have not embraced. Do they know it is "fake?"
A Selfish Experiment
OK, this is probably not interesting to most of you, but it won't take but a moment.
I use Excel to monitor my positions, and I use TOS as my data feed to keep track of the most recent price. So, in a cell where I want to track, say, the price of GOOG, I would have =TOS|LAST!GOOG
However, there are a handful of symbols which yield barfage. Wells Fargo (WFC) is one of them, for some reason. In such a case, I get:
I don't mean to make this my personal bug support forum, but (a) does it act this way for those of you using Excel/TOS too (b) any ideas? Thanks.