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.
The United States of America has been facing a looming debt ceiling crisis for several months, and the impact it could have on the stock market is a cause for concern. The debt ceiling is a limit on how much the government can borrow to meet its obligations. It is essentially a cap on the amount of money the federal government can legally borrow to fund its operations. The current debt ceiling is set at $28.5 trillion, and the Treasury Department has warned that the country could hit it by the end of the summer. If the debt ceiling crisis is not resolved, it could have negative effects on the stock market, which in turn could have far-reaching consequences on the economy.
The stock market is a reflection of the economy, and any instability or uncertainty can cause fluctuations in stock prices. If the debt ceiling crisis is not resolved, it could lead to a downgrade in the country’s credit rating, which would make it more expensive for the government to borrow money. This could lead to higher interest rates, which would increase the cost of borrowing for businesses and individuals. Higher interest rates would also discourage investment, which would lead to a slowdown in economic growth and job creation.
I have a lifelong interest in kitsch. You may not know this, but there was a time in the 1960s and 1970s that celebrities were used as brands for restaurant chains. It would be like, in the modern era, taking your family out to Matt Damon’s Steakhouse or Kim Kardashian’s Creosote Palace. We just don’t see it next (with the possible exception of Wahlburgers).
I stumbled upon this earlier today and got sort of a kick out of it:
I have two trading accounts. One of them, my small one, is for dabbling in ETF options from time to time. Often it has absolutely nothing in it, and I don’t even bother having a watch list for it. My other account, the “big” account, always has positions, and typically has anywhere from 20 to 30 different put positions on equities, depending on how frisky I am feeling.
At present, my personal account is empty (I took profits on my XLB position this morning, although I am certain I’ll regret it mightily). My big account, which is what my watch list (that premium folks can see) contains, has 24 equity puts and 1 ETF put. I’d like to discuss that ETF put at length here, and the rest of this post will be visible to paying members only.
Below is Rackspace Technology (symbol RXT, although REKT might be better). I’ve honestly never seen anything skid like this. It’s incredible how much unapologetic garbage got pushed onto the public markets during the insane idiocy of 2020-2021. It’s down about 98%.