Seeing this table over on ZH made my jaw just about drop:
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.
If someone – – anyone – – were asked what financial instrument sounded more exciting: The Dow Jones Utilities (XLU) or hot Internet app maker Snap (SNAP), I strongly suspect SNAP would win the day. However, SNAP is a dog, trading at about one-third of its peak and just kind of crawling around the sub-teens (much like its demographic). The Utilities, on the other hand, is a daily obsession of mine.
I have a ton of January 2019 puts on this (strike price $54), and after causing a bit of trendline damage earlier this year (red circle), it roared higher and only started weakening a few days ago.
Judging by the ES and NQ, it seems the world has already moved on from the big political news about Manafort and Cohen. BTFD to infinity!
So let’s turn our attention to crude oil, which is up over 2% this morning alone. This certainly seems to be the bulliest of the bullish: