Triple-Scoop Cone

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One might assume that I’ve recently been finding the market to be annoying, vexing, and frustrating. OK, three strong adjectives………that’s a good start. I’d probably add a dozen more. All the same, it is what it is, and all I can do at times like this is manage risk responsibly. To that end, I have been dialing back my positions in light of the never-ending bid. I’m presently in 50 individual shorts at a 125% commitment level.

I thought it would be a good time to visit the Animated Price Cones (a Slope exclusive!) to try to get a little insight or perspective as to what in the holy hell is going on out there. I have shown the QQQ, IWM, and SPY. Even though the VIX has collapsed from nearly 90 down to the mid-20s, it’s still interesting what a wide swath of price possibilities is still suggested (although you’ll note in just the past few days, the sheer height of this thing has shrunk markedly). I suggest just starting at these loops a few time on each ETF to drink in what’s happening. It’s mesmerizing.

Small Caps IWM
S&P 500 SPY
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