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Springheel Jack and I have a couple of things in common with our posts today: first, like him, I want to apologize for being so late. I’ve been very “out of it” today dealing with my totally unexpected new family additions. Second, judging from what Jack said in his post, we both had a “dog” issue stalling us.
Before I forget, a big shout out to Jack for his AMAZING call last year, when he shorted the ES at almost the exact top. From what I gather, he covered today for something like 300 handles on the ES. Good gravy, Jack, congratulations! That is totally amazing!
Apologies for the late post today but there has been an international conspiracy today to keep me away from my charts that has so far involved Stan, my daughter, and my (wife’s) dog. I’m hoping this won’t be a regular thing.
So far today the ES low is at 1804.25. This is over 100 handles below the globex high yesterday morning so it has been quite a move. Is it over? Possibly, though we need more evidence before buying here with any confidence. What I will say though is that the high yesterday was at NQ falling wedge resistance, and the low today is at NQ falling wedge support. We’ll see if that holds.
Since watching my bearish profits roar higher all morning was getting boring, I took my dogs for a walk. During the walk, I found two abandoned pups (sisters, I’m guessing) in the park. So, naturally, they are at home with me now. There’s no way I can manage FIVE dogs, but – – well – – we will see what happens. God is truly smiling on me these days.
Well, I can hardly believe my eyes, but only 13 trading days into the year, and my Slope Plus Glengarry Leads post has thrown off over $200,000 in profits.
In other words, I offered up 125 ideas, 124 of which are profitable now with an average gain of over 16% (again, this is in just over a couple of weeks). The hypothetical portfolio was $10,000 per symbol. I wish I could tell you I was short all 125, but I am not!
This has seriously got to stop at some point, though. Unlike interest rates, stocks can’t go below zero. In any case, congratulations to my beloved Slope Plus subscribers.