The upswing in equities was relentless ever since the opening bell on Sunday. Here is the /RTY during that time:(more…)
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.
The miniature head and shoulders pattern beneath major resistance (the red horizontal) completed today. The topping pattern is massive, yet the battle is unchanged: it’s the Fed versus Truth. I can’t think of any plainer way to express the war that’s being waged in the equity markets each day. Here is the Dow Composite with the relevant mark-ups:(more…)
It was only last month that the media felt the need to offer a reassurance like this one:
Anyone notice that, now that the Dow Industrials has risen about 7,000 points, no one is running around screeching and wringing their hands about closing the markets? Yeah, I thought not. The world hates bears and loves, loves loves the bulls.
I got in my head an epic piece I want to write about this entire situation, but that’s probably best for a weekend.(more…)
Between Market Sniper’s death, and the nearly 50% rise in the market over the past month, I’m in a worse-than-melancholic mood. I wanted to share a few thoughts about my own risk disposition.
From late February through late March, I felt like Charles Lindbergh waving to the crowds of Manhattan during a ticker tape parade. From late March until late April, I felt like I was tied to a chair while the ghost of Charles Lindbergh urinated directly into my face. It’s been miserable, even though year-to-date I’m probably ahead of way more than 90% of traders. But still – – Jesus, man, I’ve hated this month.
It doesn’t help that the ES seems absolutely poised to break above its bullish cup with handle pattern.(more…)
Once again, with an overabundance of crude oil and absolutely no place left to store it, crude oil is getting massacred, and the oil fund USO has never been at a lower price.(more…)
There are few things more boring and pointless than hearing someone tell you about “the one that got away.” By its very nature, trading generates countless missed opportunities, and anyone who has done this for a while has approximately zero interest in hearing about the big fish that got away. It’s got to be as boring as listening to someone tell you about a dream they had last night.
I’m not here to write a post about the countless profits I let slip away last quarter, but I would like to share a tale of “blowing it” that I think informs my decisions in the immediate future.
Back in mid-February, I did something which I had not done in years, which was buy puts on individual stock. I had reason to believe that Nike (NKE) was going to weaken, so I bought some puts. When I buy options, they tend to be quite conservative. Specifically, I bought some puts that were in the money and didn’t expire for months.(more…)