Our old friend IYR has rallied about 6%, and it is close enough to its gap to draw me in again. I’ve acquired October $99 puts on this, and if it keeps going up, I’ll just keep buying more.
Real Estate Re-Entry
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.
Oh, Deere
Even boring, conservative blue chips like John Deere are falling to pieces. Good.
Total Energy Failure
I think TNRev and I were the only two people on the planet Earth who were bearish on energy as of June 8th. I did GREAT with my puts except for one thing. I sold most of them! God damn me! My CPE and COP puts are triple-digit percentage winners now, and I look wistfully at MRO, MUR, DVN, and other beauties. Suffice it to say that in about a year that dolt Cramer will notice it’s a bear market in energy. We were first.
They Can’t Wait for Tomorrow
It’s a pretty quiet morning so far. I’ll just point out that Alcoa (AA) is in a terrific topping pattern. I know there’s been a lot of talk about copper around here, but aluminum is my metal of choice:
Those Lovely Line Levels
I was reflecting last night on how lucky we are now. Only last year, the market looked like this. Sort of what I called “A Living Hell on Earth”:
