Originally published on MPTrader.com.
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.
Shorting Farmer Brown
They’re Not Even Trying to Hide It
So, let's see. Day one of Facebook, the underwriting banks put an infinite bid at $38.00, the offering price, to avoid any embarassment. Day two, today, the infinite bid is at $33.00. I take it that tomorrow we'll see firm support at $28.00? C'mon, fellas, that only gives you about 7 more days with this thing. You need to be more creative than this!
Marvelous
Bigger, Longer, and Uncut
Finding my inner bull probably came as a shock and puzzlement to my long-time readers, but it's true – – on Friday, I started aggressively covering shorts and entered a single very large long position in FXE.
This morning, I've been augmenting that long with new large positions in SPY, QQQ, and TBT.
I have remained in 30 short positions, merely because the charts are so outstanding that it would be illogical to dump the positions, even in the face of what I feel is an imminent and substantial bounce. All the same, I am weighted to the long side – – – a freakish circumstance for me – – – and will merely be marking time until the Greatest Short Opportunity of the past several years introduces itself to us a little deeper into 2012.
P.S. Incidentally, I flew out to Las Vegas for SlopeFest IV and had a great time meeting people and putting names to faces (or at least screen names to faces). Hearty thanks to all of those who made the trip. I apologize for my short stay (literally 100 minutes at the venue), but the last flight out of Vegas is at 8:40. My absurdly short stay in Sin City will now permanently cement my reputation as a pitiable homebody.
