I've carefully added more shorts, a total of 84 now, but I've just added one long – a large SPY position – – not because doing so doesn't make me want to puke, but only because of Just In Case. I don't trust this market, particularly since FOMC looms. Below is the ES over the past few trading days, illustrating again how the market is jerking bull and bear alike back and forth.
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 Analog Unfolds Gloriously
Way back on September 7th, a Sloper by the screen name of Phantom Capital thoughtfully sent me an analog, richly detailed, as to what he believed the market would do. I published this analog on the blog, and since that time, it has performed astonishingly well.
I have been exchanging emails with Phantom, and he and I see eye-to-eye on the market's future. I submit to you my belief that:
(a) we will indeed see a "from 13 to 14" drop, irrespective of what that traitorous douchebag Bernanke says tomorrow;
(b) once we approach 1000 (let's call it 1030 or so), The Powers That Be will issue forth their final, desperate attempt to save the world. Everyone will buy into it again, lifting the market somewhat. Because, Slopers notwithstanding, people are pinheads and always think it's different this time;
(c) Around March or so next year, TPTB will have lifted the market high enough to permit Facebook to IPO. This will be the last major IPO for a long time to come. The Facebook IPO, in my opinion, will almost pinpoint the top of 2012.
(d) After that point, all holy hell will break loose, and Slope will ascend to heaven in a blaze of chart-filled glory amidst wailing and gnashing of teeth. Yea, verily so.
And that's all I've got to say about that.
Gold Triangle Cracked
My target? You really want to know? I'm thinking $1325. {ducks oranges and rotten tomatoes}
Euro Tantalizingly Close to Breakdown
Here We Go Again
Another day, another multi-hundred point reversal.
I entered the day with 70 shorts and 1 long. The long – DIA – was instantly stopped out at a loss. I am going through the 70 shorts and updating their stops right now.
I have 100 other stocks I'm going to thumb through for new shorting opportunities, but since that treasonous son-of-a-bitch Bernanke bastard is dripping black bile from his filthy stinking hole tomorrow about the next bailout he's going to smear up and down the hairy backs of his naked banker butt-buddies, I'm not inclined to get aggressive.
