NASDAQ Bullish Breakout
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.
Virtual Train Wreck
There goes my shot at managing $600 billion fund with Blackrock.
Still, I find my third-of-a-trillion dollar wipeout to be a good sign.
Post-Massacre Analog
Last time my virtual portfolio went through this midnight prison-raping ended on March 29th, with the main difference being THAT counter-trend rally (about which I whined endlessly) lasted two WEEKS, whereas this goddamned cursed soul-sucking monster has been going on for TWO GODDAMN MONTHS. Behold my loss of, yes, $400 BILLION dollars………..
Rough and Raw
Well, THAT was a shit sandwich! At least for any bears besides me. Jesus!
I was watching the CPI release with great anticipation. You can imagine how I felt when I saw that think spike go raging higher on the screen. It felt like an OHLC bar was being shoved through my stomach. So it seems that the Sloper verdict about how tame inflation would be was on-the-mark.
The only things I did right over the past two days were:
- Dumped my SPY puts yesterday at a profit;
- Wasted no time dumping my IWM puts at the opening bell this morning at a smaller loss than I would have endured;
- NOT deploying more cash into positions, and instead tucking it back into the safety of my checking account, where the mean old bulls can’t get to it.
Downshift
This is what is officially known as a “Bad Morning,” but at least it’s not a disastrous one. Here’s a quick portfolio update from me:
- Yesterday, as I mentioned, I had two “aggressive” positions (relatively speaking, since they expire in October instead of freakin’ next year) but got rid of one of them (the SPY puts) at a profit since I don’t trust this market (and rightly so);
- When we opened this morning, I immediately closed my other aggressive position, my IWM puts, at a modest loss;
- I also dumped a handful of positions to trim my risk further;
- I presently have 21 bearish positions, none of which expire sooner than 163 days from right now.
- I have transferred a huge wad of cash out of the account back to the safe and boring checking account, just to keep it out of harm’s way;
- Even with that diminishment, I have 21% cash on hand.
See, I don’t do the balls-out, /wsb-style, crazy-risk form of trading. Of course, if the market was plunging now, my profits would be pleasant, but not anything to shout from the rooftops. It’s a two-way street.
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