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.

Light Knight

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Quite the morning so far, eh? It’s only 7:20, and I’m ready to call it a day. All this mayhem, honestly, I could do without.

Here’s where I am at:

  • Have trimmed from 200% short Monday morning to maybe 75% short now. In other words, I’m not even using all my cash buying power. I am still “in the game” with 30 shorts, but I’ve definitely pulled WAY back.
  • I have watched with some dismay at some of the puts I sold yesterday leap another 40-60%, but what can ya do. Hey, at least my entire net worth isn’t in XIV, right?
  • I now have to do what I am absolutely awful at, which is be patient. The market is going to be very skittish now, so a “fight back” to decent shorting levels isn’t going to easy.
  • Importantly, Dennis Gartman called for a big bear market last night (around the lowest levels of GLOBEX trading, naturally), so that gives me some confidence I’ve made the right choice.

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Morning Prayers

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Good morning, Slopers. Let’s do a bit of odds and ends from top-of-mind:

  • NEW RECORD in usage for SlopeCharts. I seriously don’t know why anyone would use anything else. It is all I ever use. Ever. And it’s getting better all the time. We added some cool new features this weekend, but, ummm, current events have precluded from me announcing them.
  • I woke up about every two hours last night. At one point, both ES and NQ were green, so I figured some dumb-ass announcement had been made. They’re quite red again, so I guess not.
  • I haven’t mentioned it yet, but yesterday I bought puts again the EUR/USD. It’s a nice, clean trade and away from the madcap insanity we’re witnessing in equities.
  • I have mentioned repeatedly, especially on tastytrade, how my target price for a Bitcoin low (for now, at least) would be $6,000. NAILED IT! So do I get to wear a fuzzy wig now?
  • The VIX was at an 8-handle a month ago. Now it’s around 50, for the first time since the glorious days of early 2009. Can you freaking BELIEVE it? And the hydrogen bomb that’s been dropping on VIX shorts has been just astounding to watch. Historic!

Probably the key thing I have to say is this, and mark my words: the Republicans are going to get completely destroyed in the mid-terms. Yeah, I know the election is nine months away, and I know a lot can happen in nine months. But this nine-year bull market is DEAD, and that will still be evident by November.

Just Trust your friend Tim. The Trump revolution is over. And I say this not from a partisan standpoint, because I really couldn’t care less who won in 2016. Both of them sucked.