I am absolutely thrilled to unveil another improvement is the ever-improving Slope of Hope. As proud as I am of the many components of the site, particularly SlopeCharts, this new page we’re launching is the most aesthetically-pleasing in nearly 14 years of history. Here’s the new menu item to get there:
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.
We are only 18 trading days into the final quarter of the year, and part of me wants to close out everything, chalk up a profitable year, and be done with it. I honestly don’t think I’ve had such a powerful run in such a short span of time since, well, a decade ago. Going entirely into cash right now would take risk to zero and allow me to lock in all these fabulous profits.
Just look at how quickly things have become undone. That sliver of time on the right utterly unwound the long slog of gains shown in green. Sell-offs are swift and severe, aren’t they?
This one is great; an existing short plus a butt-ton of January 2019 puts on XME, mentioned here, just like all my shorts, countless times.
OK, OK, want something not bearish? Even I am willing to admit banks/financials have had the stuffing beaten out of them and there’s a CHANCE they could find a bounce point around here (only to be followed by a plunge into the sumerian darkness). I covered my XLF at a nice profit earlier today, but I still have individual bank shorts. Here’s the regional bank fund:
To the “this is the bottom” crowd, I defy you. Here are a dozen more shorts I am adding to my already-shorts-laden portfolio. Bazinga!
Well, the debate between the two sides – – that is, “we have not seen the low yet” (TIM) “this is the bottom and we will go higher for the rest of the year” (EVERYONE ELSE) has another ally on the latter side, who is none other than CNBC’s own Jim Cramer:
Hey, I could be wrong. I’ve only been wrong a few thousand other times in my life, and this could be another. We shall see. After all, looking at the NQ over the past few weeks, one could put in an argument that the low was made October 11, and we’ve just made a higher low (see trendline):