Trillions (literally) of dollars of value have been destroyed by the tiny increase in interest rates we’ve seen so far. Take a gander at these major funds and try to spot the trend. This is historic.
Rate-Based Meltdown
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.
Why I Flipped…….
I dug deep earlier today and plunged for my inner bull. He found his way out by taking some profits on shorts and – gasp – going long TSLA. I made a quick eight hundred bucks on TSLA and said “no mas”, because the /RTY futures were approaching what I consider a moderately-important resistance level, so I’m pure bear again. To be clear, I’ve got 25.3% cash (!!!) but my hands are not holding anything long anymore.
That didn’t sound quite right.
Where’s Political Torture?
Elon Bounce
I noticed the top-trending item in Twitter yesterday were the words “Poor Elon“. Today the top one is “Mike Lindell” which actually has nothing to do with the pillow guy but is essentially saying Elon is the new Mike Lindell. Suffice it to say that sentiment against the guy is pretty hard now. Which tells the contrarian in me that Tesla is probably ready to get some strength from these levels, with $700 being ferociously defended.
Partial Skank Profits
I am doing a little trimming here and there this morning. My cash is up to 17.7%. An example of what I’ve taken profits on is Abercrombie & Fitch (symbol ANF) on which I own August 19th $40 puts, which are up 77% from my purchase. I have sold 40% of the position based on this midline touch, but I’m sticking with the rest.
