Below is one of the dogs I rescued named Rolo. Longer-time readers of Slope know that I was fortunate enough to find this beautiful beast in North Carolina and, saving him from euthanasia at the animal “shelter”, I was able to find him a safe and happy home on an alpaca farm.
He also holds a special place in Slope history, since I was tending to him in the midst of October 13, 2022, a market bottom that will live in infamy. More specifically, it seemed on that morning, when the market was plunging, that the bears were finally victorious. In the end, the bulls smashed our faces in, and we’ve been going up ever since.
I used this memory of Rolo to guide me, because this morning was exactly the opposite. The CPI came in ice cold, and our dear, lovely, highly moral bullish friends all started high-fiving each other and bidding stocks into the stratosphere.
Caught in the midst of this horrible panic, and with a totally short portfolio, I naturally had to take action. Something had to be done. I therefore must come to you now and confess everything that I dumped, given the tremendous wipe-out of the bears that took place this morning. Here we go with the list:
- DICK
And that’s the end of it. I got rid of dick.
Indeed, I went fully crazy and ADDED TO MY WORST POSITIONS (RCL and AKAM) in a total “up yours” to the bulls. I’m shorter now than I was at the open. I even added new positions.
Who knows how the day will finally turn out, but……….hope springs eternal in the bearish breast. Thank you, Rolo! We are hoping your mirror image comes to us today in all its splendor.
