Here’s something you don’t see every day, courtesy of the Knight Compound security cams: a guy with a dog in each arm, opening a door with his foot, and getting the day going. The flourish of pulling off my geriatric dog’s diapers is a bonus.
Night Three was a success, and I enter Saturday with a mountain of work to catch up on.
Now that February is behind us, I’m glad to see that Slope has a flawless technical performance for the month.
The five trading days spanning February 21-27 were fantastic for me. I made the decision Thursday night to lighten up tremendously on Friday morning, and that’s a good thing, because as I hoped and anticipated, once the Election Day Gap was sealed, the bulls took over. Early on, I went from 0% cash to 40% cash, and I have every intention of going back to 0% cash at the earliest sensible opportunity.
How long will that take? Could be days. Could be hours! Friday’s end-of-day rally did a lot of the heavy lifting already, and there is a massive amount of overhead supply waiting to stop our bullish buddies.
One stock which exemplifies where we are at is On Semiconductor (ON). Long-term, it is screamingly bearish, and it has already thrown off great profits for me. Short-term, it is dying to bounce back, which I’m confident it will (It had better! I’m out of it!)
Personally, I have had my most awful trading periods right on the heels of my best ones, and if you don’t mind, I don’t want to go through that again. For example, my peak portfolio was June 16, 2022. I felt like I was PRINTING money. Over the next few months, I proceeded to take my truck full of cash and hand the keys over to the bulls, which they cheerfully took. I completely blew it, and I’ve hated myself for it ever since!
The post-election behavior of the market has convinced me that the glory days for the bulls are utterly over, and the destruction coming is going to be so vast that even I’m not going to like it. I’m not kidding. The sense of foreboding I have is dark beyond belief, and I have real doubts about the nature of the U.S. will be even a couple of years from now.
In the meanwhile, it is my intent to try to extract as much profit as I can out of the collapse, and in the very short-term, my goal is to not get so consumed with my personal duties (see below) that I have absolutely no time left for Slope and charting! Thank you for your patience with me.
