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.
As we head toward a new week, it’s the Same Old, Same Old: green ES, green NQ, green RTY. My fixation remains on energy, however, which I believe has the most intriguing bearish prospects, and crude oil, bless it, is actually managing to be down 1.2% as I’m typing this, which in this environment is practically catastrophic:
On Monday morning, I got a sympathetic email from a fellow Sloper who was asking if I was holding tough on my XLE puts. I assured him that I was, although I mentioned I felt “horrible” at the surge (tinted below in green) which, evidently, was prompted by the latest stupid government program of waste known as the Build Back Better Boondoggle of $1.2 trillion. Mercifully, since then, the thrill of this latest travesty seems to have eased away.
I have a substantial bearish position on the energy fund XLE (long December 17 2021 puts). It was distressing this morning to see what XLE was doing before the market opened this morning. Thanks to the OPEC cartel, crude oil was raging higher, and so too was XLE. I wondered if I should just give up on my XLE puts and be done with it.
Last month (Our Addiction Economy), we shared a thought-provoking post by our psuedonymous Twitter correspondent JC Bennett, about the addictive nature of our current economy. Below, we’ve shared another thought-provoking post by him that deserves wider readership. It’s about a dystopian novel that seems uncanny in its predictions of our present, including the Fauci-funded beagle torture. First, a quick note on a once and current top name of ours, the home solar energy company Enphase Energy (ENPH).
Enphase Energy was one of our system’s top ten names in late April, along with a couple of conventional energy named, Laredo Petroleum (LPI) and the VanEck Vectors Oil Services ETF (OIH).
(more…)Being an energy bear hasn’t been easy in recent weeks, although the past couple of days may have finally marked a peak. I am still captivated by the pattern in the oil & gas index which shows a major resistance zone has been tagged.
