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.
Today’s Trading Uniform
Most people put very little thought into what they're going to wear. Not me. I usually spend ten – sometimes even fifteen – seconds contemplating my ensemble for the day.
Today's choice? I've draped it on one of my laptops for your observation:
Current portfolio: 108% committed. 242 short positions.
Incidentally, I did a brief radio interview recently which you can listen to here.
Precious Metals Reversal
Earlier today, I……
+ Covered my GDX short at a good profit
+ Covered my GLD short at a small loss (two tenths of one percent)
+ Went long GLD, which is shaping up for a potentially nice breakout (one it's been struggling with for weeks now)
Night Shift
Good morning, everyone, and a happy new week to you!
Hey, what's sullen old Tim so cheerful about? The /ES is up, and when he went to bed, it was down hard! What gives?
Well, for one thing, it looks like the markets are open (phew!), so I can trade. Second, I actually would prefer a bit of strength right now. I've got more shorts I'd like to enter, and doing so into a early-morning swoon isn't really my cup of tea.
You can see last night's mini-plunge and the recover enveloped in red below. There's a lot ton of overhead supply, highlighted in yellow.
The thing to watch, of course, is EUR/USD. I think a very modest recovery might be in the cards, and I mean modest. I see 1.2108 as a line of minor resistance and 1.2141 as much more meaningful resistance. That's only 1.5% above current levels, and I'm not even sure it'll get that high.
Good luck today; I think this is going to be a really, really interesting week.
Take-Out Charts
As proof my obsession has no limits, this is my placemat from dinner tonight. Hey, at least it wasn't cloth.
I was also sneaking peeks at the /ES and EUR throughout dinner. It looks like we could have an interesting Monday ahead of us. As a repeat, my portfolio is 120% cash-committed with 199 shorts, 1 ultrashort, and 51 new short positions waiting in the wings. Zero longs.
