Before the market opens each weekday, the first thing I do is a “disaster check” – that is, I see if any of my short positions are suffering big double-digit percentage gains due to an earnings blowout, a takeover, or what-have-you. These are pretty rare, but on occasion the opposite happens too: I get a disaster delight, like DLLR this morning. I came into the day short, having opened the position due to a terrific gap-fill, and it’s down 25% today. I covered and chalked up another victory to gap-fill trades. (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.
Miners Ready to Short at Gap-Fills
The Easiest Way to Make Money
(a) Buy a ton of stock – in this case, AAPL
(b) Have a conversation with the CEO of the company;
(c) Tweet that you have done so (specifically, “Had a nice conversation with Tim Cook today. Discussed my opinion that a larger buyback should be done now. We plan to speak again shortly.”)
(d) Watch your holdings zoom higher in value (more…)
The Gold Gap
Gold has bounced nearly 9% since bottoming early last month, and it is at not only an important trendline but also fairly near a major gap at 130.38. I haven’t touched precious metals much lately, but earlier today I shorted a medium-sized position of GLD with a stop at 130.39. (more…)
Perfect Gap Close for RackSpace
I’ve been holding off on shorting RackSpace (symbol RAX), and I’m glad I did. They announced earnings after yesterday’s close, and the stock has shot up to perfectly fill the gap from May 8th. I’ve gone ahead and shorted the stock today, using a stop-loss of 49.52. Here’s a close-up of the gap close: (more…)
