Bull Victory Bar
Slope of Hope Blog Posts
This is the heart and soul of the web site. Here we have literally tens of thousands of posts dating back over a decade. These are listed in reverse chronological order. You can also click on any category icon to see posts tagged with that particular category.
The Forbidden Zone
My decision on December 26th of last year to dump virtually every short I had, buy GUSH, buy FAS, and short bonds, was the result of some of the most shrewd, most clear-headed thinking I’ve ever done.
In contrast, my impatience and eagerness to jump back into the world of bearishness, having had such a great quarter in Oct-Dec, was one of the worst. Indeed, in my own words from this post of December 26th:
Partial Disillusionment
Ya know, as hard as the past three weeks have been for bears, I was hanging in there just fine……….until THIS bolt out of the blue:
Red Sky in the Morning…..
…..bears take warning. Indeed so.
It wasn’t that long ago I would be pretty jazzed about big red numbers to greet me at the start of the day. Ever since Mnuchin fired up the PPT machines, though, red numbers are meaningless. The equity markets simply get bid up through the day. Just look at the /ES chart below:
The Book of James
What a difference a single month can make. Observe the chart of the natural gas market below. Once it pushed past resistance (pink horizontal line) it went roaring higher, devastating – – notably – – James Cordier and his OptionSellers.com fund, purportedly to the tune of $200 million. And then, equally as fast, all the gains disappeared. It’s as if nothing happened.
One Nightmare to Go
The Last to See Them Alive
An ES up over 50 points. An NQ up over 200. It was an absolute mauling of the bears today, .as the bulls celebrated – – umm – – the Democrats taking over the House? I guess that was it. In any case, fear absolutely left the building, as shown by the VIX;
Lines Trampled
The bulls have absolutely trampled the bears today. I’m proud of the fact that I suggested ERX, XLB, KBE,and some other longs near the end of October at what turned out to be great prices. I’m not so proud of the fact that, personally, I sold them only a few days later! Because it’s clear that “the bounce” is still going on, nearly two weeks strong now.
A number of horizontal lines have been simply blown away. As I’m typing this, the Dow is up well more than 300 points, the ES over 40, and the NQ over 150. It’s quite a bonanza for the bulls, particularly considering the House is back in Democratic hands. So the “last lines standing” are shown below for the Dow Jones Composite:
Three Little Words
Lifetime. Highs. Everywhere.
For the most bearish month of the year, September is doing one lousy job. I guess all the chatter you’ve seen here on Slope about 3000 on the S&P (not from me…) might just materialize sooner than imagined. But just look at these……..
V as in IrreleVant
Well, for our latest Total Waste Of Time, may I present to you the past twenty-four hours:
