A Dark Bar for a Great Week
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.
Chairman of the Board
I’m a data nerd at heart, so I’ve been having an embarrassing amount of fun cleaning up our commodities database and going through it with a fine-toothed comb. Here is the long-term continuous contract of lumber, which has a couple of beautiful patterns, it turns out. One is the head and shoulders top (in red) and then there’s the massive basing pattern in green which, as we know now, was followed by an insane mega-rally:
The Positions
OK, I’ve been quite busy with buys ‘n’ sells over the past 48 hours, but the dust has settled. In a nutshell, I am bullish short-term and bearish long-term. I have a ton of cash undeployed, but here are my live positions now:
Micron (MU) bearish via Sep $80 puts
Semiconductors (SMH) bearish via Aug $250 puts
Brazil (EWZ) bearish via Sep $43 puts
Consumer Discretionary (XLY) bearish via Sep $175 puts
Precious Metals Miners (GDX) bullish via June 25 $34 calls
Materials (XLB) bullish via July $80 calls
NO CRYPTO POSITIONS AT ALL! (Got scared last night, thank God)
(more…)Buy & Sell
I guess all the cute little “hey, Tim, that’s all the weakness the market is going to give you” yesterday from Slopers was wrong. I’ve had a great week, with triple-digit % gains in some options. Yay! Nice to see bulls losing money. It warms my heart. It’s kind of shocking how little support I get from most people here, but I suppose almost every human is bullish by nature, so I shouldn’t be surprised. Almost no one on the planet is a true bear. Just me and Baby Bear.
Believe it or not, I actually do have one LONG idea to share; I’ve bought calls on this for a bounce:
