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.
Premature Emissions
If there's one thing that binds bulls and bears together, it's the mistake of closing out a position too soon in order to (a) take profits (b) avoid any chance of a smaller profit or, worse, a loss.
This is a beginner's mistake, and it's one that I make from time to time as well. Just yesterday I covered two profitable shorts – SPRD and GMCR – simply because they had nice profits and I thought the risk of them reversing was high (these are pretty volatile beasts). Well, here's what has happened today, and I've marked the approximate point-of-closure with an arrow.
So…..great picks, Tim, but sub-optimal closings, to say the least!
Don't do this.
Bye, Doo
Tricksy Markets (by Springheel Jack)
That was a strange day yesterday, with Vix gapping down through rising support to make a lower low on the same day that SPX also made a lower low. We did see a reversal in the 1243/4 ES area that I suggested we might yesterday morning and that means that declining resistance is at least clear. Rising support is less clear, with a strong pinocchio through my support trendline yesterday at the low, though ES recovered above it by the end of the hour and (so far) it has been retested overnight and held. As long as that remains the case, and looking at the ZB chart, I'm expecting a bounce to test declining resistance again today. If declining support breaks breaks then I have two viable support trendlines with three touches each below. More details on the chart:
