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.

Here’s the Tough Part

By -

My pointing out of the diamond pattern on the NQ (even while it was in formation) and the price collapse that followed was spot-on. Well, that's all lovely, but here's the bummer part: we are nearing the price target.

That bums me out. Watching prices collapse is a total kick, and it always stinks to see it draw near an end. I have started covering some positions for nice profits, but I must confess a certain amount of chagrin at the entire affair. I'd prefer markets go to $0, but sadly, they always find support.

I even went long a big SPY position a little earlier today when it looked like a bit of a base was forming, but I got out at a tiny ($1,000) loss before any real damage was done. 

I am keeping one thing in mind, though: oftentimes the lion's share of price change happens just before the reversal, so even if you capture 95% of the move on a time-basis, you can miss 30% of the price move in that final little scream. So I'm holding off on completely covering until the target is utterly achieved.

1123-nq

Thanksgiving Thoughts (by Springheel Jack)

By -

This will probably be my last post this week, unless Friday morning looks particularly interesting, as the markets are closed in the US and only open briefly on Friday. The markets are open elsewhere of course, which is worth bearing in mind on the forex markets particularly, and obviously everything's still open here in Britain, where for some reason the successful secession of the US from the British Empire has yet to be given the status of a national holiday.

(more…)