I’ve been watching (and waiting) on this one for weeks; it looks very close to the strike zone.
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 Walter Energy WLT (By Ryan Mallory)
Since the market opened this morning, I've been able to post some incredible gains in my long positions in CMG, NFLX, UA and HD. I actually sold a bit early in Netflix (NFLX) at $77.68 from $70 due partly to my incredible distrust of the stock – only to see it march higher to $80 (which actually doesn't bother me, stocks have the right to move higher or lower once I get out). But I am surprised by the early bullishness in my holdings despite the market weakness.
The one thing I was wasn't planning on this morning though was going short any stock, but mainly my reasoning for doing so is to add a minor hedge to the portfolio, in case things really try to get nasty either today or tomorrow, as we managed to get parabolic, to a degree in the short-term, and could be facing a pullback.
Language Lesson from our Patron Saint
It occurs to me, having watched this favorite clip of mine below, that between Steve Jobs and George Carlin, I must have an abiding affection for overly-slender, profoundly-intelligent guys wearing black tops and sneakers. Enjoy:
Looking Toppy Here (by Springheel Jack)
SPX closed over the upper daily bollinger band on Friday but has not yet reached my trendline target from Tuesday. That would be at slightly over 1380 this morning. This is a decent probability area to see a reversal and retracement, especially given the NYMO setup I posted on Tuesday:
