I’ve been doing this a while. A long while. Longer than virtually anyone. And, over the course of time, the kinds of words used to describe Slope are “open”, “earnest”, and the like. On rare occasions, though, there are rumblings in the force. Such as last night, when I reminded readers of the very positive posts I did about Tesla seven years ago……….
…….or when I mentioned how my current portfolio had all profitable positions, in spite of the marketing hitting a record high………
Isn’t it interesting that the insinuations of being a disingenuous liar all come from free users and never from paying members? And yet there it is. If I was actually not fully forthcoming, I’d simply ban any negative slights like these, but, again, that isn’t Slope.
In any case, when this sort of abuse starts being meted out against your gentle host, deep down I take it as a positive, since I figure if bullish arrogance is blowing out the gaskets, it might signal a psychological apex of sorts. There’s only one bear left after all. Me. (Oh, and Baby Bear).
There’s no reason to declare victory just yet, but it looks like it might be a “five for five” week for me. An hour before the open, it at least appears things are starting to break down, such as with the small caps, which just breached a fairly important horizontal………….
The ES, too, is swinging a hammer against the March 23rd trendline. It broke it on Wednesday evening, but that son of a bitch Powell bid the market up once the trendline begin breaking. Well, it’s happening again.
The important reality is that there are only about 50 trading days left between now and the Presidential election. Your present administration is going to do everything in its power – – however many trillions it takes – – to prop up this comical, embarrassing, amoral clown-fest. After November 3rd, forget it. Prepare for a Robinhood slaughter. 20-somethings are never going to want to hear the word “trading” again.
In spite of that, I remain aggressively positioned. At the moment, I have 62 positions (again, all profitable, in spite of the leering insinuations cited above) at a 160% commitment level.
Bulls, naturally, will retain a tremendous advantage in these remaining days between now and November 3rd. As thinking people well recognize, bulls are weak and dependent. A parasitic entity, a bull is absolutely beholden to the endless largess of a complicit federal government, led by the treasonous and hypocritical Jerome Powell. Bulls, being beneficiaries of such a welfare state, can continue to count on nonsensical headlines about vaccines, and re-started Chinese trade deals, and stock buy-backs. Bulls aren’t exactly the sharpest knives in the drawer, but their know how to be fiscal whores.
There won’t be any vaccine. There won’t be any V-shaped recovery. What is ahead of this once-great republican is utter ruination and financial devastation. My plan is to offer the spiffiest charts and trading tools so we can enjoy the collapse in style. All thanks to my blessed premium members. And no thanks to the rude, rancorous rabble hurling invective within my own creation.
