Why We Fight

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Days like today are tough. Really, really, really tough.

It’s not just that the market is moving higher. Hell, if you’re not used to it by now, you’ll never be used to it. We’ve been living in the “up” world for five and a half years now.

It’s a combination of things……….

* Haters Gonna Hate – On days like this, some people feel the need to bash. I got a couple of the nastiest, ugliest emails you could imagine (anonymous, of course). Of course, these same people don’t send me apologies or kudos when things are going my way. They just like to pour salt on the wound when the time is opportune. If I spent 2007/2008 sending vindictive, mocking, cruel emails to those getting hurt by the market, this would be divine karma. But, ummm, the grand total of those emails I sent was precisely zero. Ever.

* Persistent Sisyphus – If the market had inched its way up to current levels smoothly all summer, it would be one thing. But, no, it has to appear that we’re finally getting a rupture in the market (cyan tint) and then, ho ho ho, it simply rips higher, like nothing ever happened (magenta tint).

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* Is There No Alternative? – the principal reason that “it’s different this time” can be summed up with one acronym: TINA (There Is No Alternative). This is the short way of saying that all those trillions of dollars sloshing around have no place to go except equities in this ZIRP environment of ours. And it’s starting to dawn on me – – five years too late – – that maybe this is true. Because, yeah, yeah, yeah, This Will All End Badly Someday, but for God’s sake, what is Someday is in the year 2075? At the moment, the Dow is basically mashed up against the underside of its long-term trendline, and if we keep getting strength, then all these wonderful bearish setups are just going to fall to pieces.

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Since I’m naturally kind of morose anyway, I get stoic on days like this, but I actually do drift toward thinking of the things which I’m grateful for, since the market has, for the time being, turned its back on me. In particular, I think about…….

+ Slope Plus – Perhaps you think when I refer to my “beloved” Slope Plus users, you think I’m saying it with a smirk. Not at all. My Slope Plus subscribers, frankly, keep this site up and running! Their reasons for subscribing vary – – – some want trading ideas, some want to support Slope, and some – – I’m betting – – just feel sorry for poor ol’ Tim! And that’s OK. I’ve never been too proud to be the object of pity 🙂

+ Tastytrade – Tom Sosnoff and I go way, way back, and he got me involved in Tastytrade in the very earliest days, when it was little more than a URL he owned. I am terribly grateful for my inclusion in the Tastytrade network by way of my daily show there (and the many videos I’ve done for the firm).

+ Slopers in general – We have an amazing community here. I’ve never seen any financial blog that has a group anything like Slope’s. This isn’t just a butter-up-the-troops kind of remark. I am sincerely in awe, and humbled, by the loyalty, the dedication, and the esprit de corps exhibited here 365 days a year. So thank you.

One rotten day does not a trading life make, but honest Injun, it feels like my batteries have been drained almost to zero. I’ll shake this off by the morning. I just wanted to get some thoughts off my chest, and some gratitude on the table, for all to see.