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.
One of the stranger trading moments last week was when O’Reilly Auto Parts announced their earnings after hours. I was short the stock (I have written about it many times), and the stock plunged from the lower 200s down to the upper 180s. “Yow-Hoo!” thought I. The stock kept getting battered lower, and when it opened the next morning, it was down hard.
I tightened up my stop quite a bit, but never thought it would get hit. When I came back to my screen a little later, my stop had been taking out, and the stock had gone from being down huge to being up huge. I could hardly believe my eyes. Thanks to my stop, I got out with a nice profit, but it was much “nicer” before.
Even though the market was bug-eyed bullish on Friday, roaring to highs never before seen in the history of humanity, retail continues to crumble. Macy’s, already down about 70% from its peak, fell nearly 8% on Friday alone. The scary thing is that if the analog I’ve pointed out dozens of times actually comes through, it’s just going to keep spiraling toward, well, $0.