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.

Just a Taste

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For those of you who might have missed it last weekend, I announced that David Stockman’s Contra Corner was available for subscription by way of this link. To me, this is like catnip. I read it with relish every weekday evening. Here’s an excerpt from the most recent missive:

But at least back then, the Goldman Democrat in the White House, Secretary Hank Paulson, brought a semblance of competence and restraint to the dark business of pumping trillions of loot into the coffers of crony capitalist supplicants.

By contrast, this time we have a pathetic Goldman flunky, Steve Mnuchin, who is familiar with bailouts only because he got a $3 billion windfall from Uncle Sam last time around for taking virtually no risk during the pointless resurrection of a busted Savings and Loan called Indy Mac, which had absolutely no reason for existence.

Well, of course, he also helped Eddie Lampert load up the venerable Sears & Roebuck with crushing debts to fund massive self-serving share buybacks, thereby obliterating a chain of nearly 4,000 retail stores across America with $50 billion of sales in world’s record time.

Now—just one month after crowing about the stock market’s record high on February 19— this knucklehead has been put in charge of dispensing $1 trillion in Federal bailouts to a veritable soup line of corporate supplicants who have no one to blame but themselves for the alleged cash crunch now upon them.

The Last Shortable ETF

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I’m going to sound like I’m full o’ crap, but I sold all my long positions earlier today, every one at a profit. By no means did I sell at the peak of the day, but this market is incredibly fragile. As I stand here now, I’ve got one position – short XLP – and that’s it!!! I’ll probably spend the foreseeable future just doing daytime scalping with no overnight positions. Maybe.,

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