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.
My Losing-est Symbol This Year
I'm having a good day, so it's time for some self-abuse! No, no; not that. The kind where I criticize myself.
I thought Royal Bank of Canada (RY) would be a good short. I made this my "no-x-trends" idea. Well, it got stopped out. What was my mistake? Anticipating a pattern, instead of executing on a completed pattern. The pattern never broken support, and it surged up to its resistance point (which, it turns out, is a much less risky place to put on the trade, given the circumstances).
The thing I didn't realize until yesterday was this………..this has been my "losing-est" symbol for 2010. I've lost more cash on this one instrument than any other – – even my huge ETF positions! It just goes to show, when you have too much faith in a pattern that looks like it's going to materialize, it can really cost you.
The Common Folk are Starting to Doubt
Sicko
I was pleased this morning to see silver, one of my larger short positions, was falling away from resistance. It also has one of my favorite symbols of all time.
