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.
I noticed something interesting lately. A week or two ago, Peloton announced they would be cranking up fees to deliver their stationary bicycle to homes by hundreds of dollars. Not long after, the stock collapsed.(more…)
In recent days, I have been thinking deeply about what I can do to improve my trading. I’m a simple soul, so I like rules or mnemonics that are easy to remember and understand. Thus, I present to you what I hope to be my watchword when it comes to trading: PATE
It is pronounced as two syllables (as in the spreadable comestible) and it stands for Patience, Always Trade Extremes.
The “patience” is obvious. That is, be patient enough to wait for true opportunities. And what opportunities, pray tell, do I mean? Well, EXTREME opportunities. When something is stretched so high (as in my “sure-fire” XLE trade last week) or so low (as with XRT and TSLA this morning) that the risk/reward ratio is terribly appealing. And it’s not just price extremes. It also applies to slam-dunk, killer price patterns (like EFA and EMB).
I’m going to try to burn this into my head and actually live it. Let’s see if it helps! Maybe it’ll help you, too.
I am very rarely pleased with my own trading. Today, however, was the very rare exception that I would give myself an “A-“ for the day as a whole. A few observations and remarks about this tumultuous FIRST day of an insane week:
- My enthusiasm for gold was well-founded;
- My premium post anticipating a huge bounce was spot-on;
- My insane premium post about buying Tesla (yep, Tesla!) preceded a 80 point ramp;
- And my decision to gobble up a ridiculous amount of IWM Friday calls threw off a 75% profit so far
So, for once, I’m not beating myself up about the countless things I did wrong. Monday was absolutely terrific. I hope it’s the start of a trend that lasts longer than a few hours.(more…)
Let’s stop talking about equities for a moment and turn our attention to the one thing whose bull market I always applaud, which is GOLD. Looking at symbol GLD there is some very interesting action happening in the form of a symmetric triangle whose breakout could yield an exciting new up-leg.(more…)