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.
Another day, another historic record in equities!
Perhaps you’d think I’d give up shorting. Not a chance! I’m delighted to be selling into this kind of strength. I offer for your consideration Exhibit A: AutoZone. I shorted it Monday and bought puts. I covered it yesterday and sold those puts, both at a profit. With today’s strength, I am repeating Monday’s action, with the intend of holding it longer than just a day.
I tend to avoid talking politics as my own libertarian views aren’t widely shared, but I’ve been listening with great amusement on the radio this morning to UK Feminists having to acknowledge that Margaret Thatcher advanced the cause of women’s rights while criticizing everything else about her. She would have enjoyed that too, as while she was definitely a feminist (small f) in favor of equality for women, she despised Feminism (the political movement) as hopelessly left wing and misandrist (the female equivalent of misogynist meaning hater of women).
The following 3 Daily ratio charts show that:
Through the course of any trading day, I take snapshots of the most interesting charts, save them, and write up a post about them when I have time. Yesterday, I took a snapshot of AutoZone (symbol AZO) as a short candidate, but unfortunately I didn’t get around to doing a post on it (I did, however, mentioned it explicitly in my video last night).
I entered today short AZO and long puts on the same. I’ve covered the short and sold the puts for now, although I think there’s plenty of opportunity for lower prices ahead. What drew me to this short in the first place was its failed bullish breakout; what will bring me back in would be a retracement back to its failure level.
