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.

So What Am I Doing?

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Given the market mayhem, I thought some folks might be interested to hear what I’ve been doing this morning. Before I begin, I’ll mention that at least one person misunderstand from my last post that I “only” had 28 positions. In fact, I had 106 positions (all short, naturally). I was merely showing those with the largest pre-market drops. Anyway…………..

  • I have trimmed from 106 shorts to 75;
  • The 75 I kept have relatively loose stops, to take into account the prospect of central bankers getting cute;
  • I got out of all my ETFs, largely out of caution because of the aforementioned pud-yankers central bankers;
  • I have dropped my exposure from about 150% to about 90%;
  • The charts are still dynamite in their formation, and I think bulls are going to be drinking large mugs of disappointment brew all year long, which should give them a small taste of what it was like being a bear from 2009 to 2014;
  • I firmly believe that all rallies in 2016 should be sold, until such time as we reach 1577 on the S&P 500 cash index.

Thus spoke Zarathustra.

My Enthusiasm Was Warranted

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Surely even God cannot be this munificent.

For days now, the market simply plunges a few hundred points, offering up a gift to the formerly-beleaguered bears. The BTFD crowd has been humiliated and battered and are now reeling from confusion.

Yesterday afternoon, after a fantastically profitable day, I told myself to brace for the prospect of market strength, since there will be a natural to-and-fro to the market, and sure enough, the ES was up about 5 points or so, But then, like clockwork, it slumped to -9. I checked the news and, yep, it was China again (my new favorite country). Just LOOK at what the ES has been doing in just the past few sessions.

0107-es

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