I made no secret that Sally Beauty Holdings was a good short, having done FOUR posts to that effect earlier this year. It’s finally kicking into high gear. I remain short.
Oh, and as for me dumping my SPY puts early this morning……..PHEW!!!!!
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.
Took My Put Profits
Earlier this morning, I sold my SPY October $245 puts for an overnight profit of over 50%. I have several remarks about this:
- It’s kind of stupid of me to buy options that don’t expire for something like ten weeks and sell them the next freakin’ day, but what can I say………I’m a wimp.
- I’m going to be driving 20 hours (round trip) to see the eclipse Monday morning, and frankly I’d like to enjoy it without worrying about my stupid options position.
- I hardly ever trade options.………literally one trade for every few hundred equity trades…..but I had a “feeling” yesterday morning to give it a shot.
- Most importantly, this trendline below compels me to not be greedy.
Of course, this all probably means a CRASH on Monday, so………you’re welcome!
Swing Trade AVY CAT AAL
Does Your Neck Hurt Yet From The Metals Action?
Reading most metals analysis in 2017 has been like watching a tennis match with the analysis going back and forth over the net between bullishness and bearishness. As the market reaches its highs, analysts turn bullish, and as the market reaches its lows, analysts turn terribly bearish. And, when the sentiment of the market has reached these extremes, it has marked the point in time when the markets have turned.
As I have also tried to warn all year, anyone who uses trend lines as their primary method of analysis has been terribly whipsawed, as the metals love to exceed trend lines right before they reverse strongly. This is one of the biggest reasons many have become terribly bullish at the highs (right before the market has reversed), and terribly bearish at the lows (right before the market reversed as well). So, does your neck hurt from all this back and forth during this whipsaw? (more…)
