Just an update on my one and only long position, Rivian (RIVN). My stop-loss is set at 14.60:
Rivian Stop
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.
Stock Picker’s Market?
Lately, I’ve been referring to equities in the U.S. as a stock picker’s market, but what does that really mean? I think this morning provides a great example.
As you know, with everyone expecting World War III and a huge crash, all the equity futures have gone GREEN. Here is the /NQ starting from midnight, showing a rise of over 500 points based on hope, I guess.
The Morning So Far
One shouldn’t fill in the Trader’s Diary on Slope until day’s end, but I’ve already decided to give myself an “A” for the day (which, trust me, is rare). In short, what I’ve done in the first hour is:
- Took immediate profits on half my April DIA puts, my most aggressive position
- Got out of BITI, since I didn’t like Bitcoin’s behavior over the weekend
- Was stopped out of one and only one position, AXON
- Took great profits on my EWJ (Japan) short
- Overall am enjoying a percentage gain many multiples the market in general (inverted, of course)
The minute bar chart of /YM kind of says it all: as is so often the case after a shock event, the gap got filled (and then some), affirming the wisdom of getting the devil out of those puts at a super profit.
I took risk from 170% down to 88% and am now back up to 137% since I think the (ridiculous) buying may well be past us. Onward!!
Revolutionary Hard
What a weekend, eh? Looking at the 5-minute bar chart of the NASDAQ futures, it’s almost quaint to remember the NVDA price spike from only three trading sessions ago (post-close Wednesday), marked with the red arrow (dur-hay). That was truly the last gasp as the market, crazy as the news is, is actually following a marvelously steady slide in a series of Tim-loving lower lows and lower highs.
The Softest of Powers
