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.

Veritas

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I finally have a day where I'm making some serious profits. I crow a little about it, and immediately the troll Gina shows up to state that I'm lying.

Anyone who comes here regularly knows that no one excels at beating himself up about losses better than me. I am not shy about when I suck as a trader. I've been doing it a lot the past six months.

So if a day comes along where I'm doing great, excuse me if I say something about it.

Gina seems to suggest that I mentioned my large SPY short simply because it went my way. Unless you're a total moron, you realize that, since I'm away on vacation this week, I've been blogging at about 2% my normal rate. Today's news was so big that I am actually in front of a computer a little during the trading day, and I managed to post a few comments.

So, yes, I'm being honest about my SPY position. I shorted a million bucks of it a couple of days ago. It lost. I added another million. It lost a little more. I added half a million more, yielding a 2.5 million short. Today it did dynamite. I covered all but a million of it.

So, Gina, I am honest with my readers. Yes, I made a point of this big position since it took a lot of confidence to enter the trade in the first place. So excuse me if I crow a little about a profit now and then.

The Fall – Featured in Schlomo Motion

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Well, well, well. Our dear, pure, honest friends on Broad Street are finally seeing a sliver of the light of justice in their snake pit. It couldn't happen to a nicer bunch of guys. Plus Lloyd's quite a mensch, doing God's work and all.

I personally have always believed Goldman Sachs was the most corrupt enterprise in the United States. There are many other crimes, I suspect, that will be revealed during what is sure to be a kick-ass discovery process. I only hope this little dagger begins an entire series of assaults upon the organization which eventually drive it to ruin and bankruptcy. I would also like to see Blankfein and his co-conspirators put to death for treason against the United States. They are an evil, crooked bunch.

I have tried to enjoy my week "off" here in Paris, but I've been charting, as always, and amplified my short positions radically on Thursday, particularly with the SPY. I have been blogging with one and a half arms tied behind my back this week, since I'm in very unfamiliar territory with very unfamiliar computers, but the resistance levels I was seeing in major ETFs had me weeping tears of joy at the very sight of them. I was entering position sizes on the SPY much larger than I've ever done in the past.

Today I reduced my SPY position by about 60%, but I've amped up some other positions. I got rid of all but three of my long yesterday, and those final three got closed out earlier, so I am totally short right now. I have thirty positions, a few of them quite substantial.

My flight is slated to return on Sunday, but with the volcanic activity, I'm not sure if I'll be "stuck" in this magical city or not. (I never thought I'd have to mention volcanic activity in my travel plans). I will say that, no matter what, this news about Goldman fills my heart with joy and hope that perhaps the world has a small bit of justice in it. Thank you, SEC!

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