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.
Given the title, I want to make clear at the outset that this post has nothing to do with gun violence, particularly prompted of the events of this weekend. I’ve been thinking about this post long before those events, and even though I am loudmouthed to a fault about my points of view, the whole issue of guns is something I’ve never, nor will ever, touch. No sense is alienating the handful of readers I haven’t pissed off already.
No, this is about something far more psychological and long-term. I am speaking of what I view is the correlation between social mood and justice. Specifically, the forgiving nature of the public during prosperous times and the vengeful disposition it takes during times of hardship.
I sometimes talk about patience when it comes to positions, irrespective of whether they are long or short. I wanted to offer an example below in the form of Gulfport Energy (GPOR). What’s intriguing about this is the size and clarity of the topping pattern. Everything above that horizontal line is a squeaky-clean top (this image was as the stock looked months ago).
In a twisted way, I love days like this. All the doe-eyed good news is splattered out there, and I can sell into the strength. I was at a mere 18 shorts this morning. Now I’m up to 51, and climbing every minute.
One item I covered way too soon, but mentioned many a time as a short, is Macerich. I seem to have trouble accepting that things can grind their way down toward zero, but it takes a long while (like, say, Pier One). I’m not long anything right now including, sadly, patience.
Before I begin, I wanted to mention at the outset that we’re planning on taking the site down tonight for 20 minutes (hopefully!) as an important step in speeding up everything. The speed improvement won’t be done for about another week or so, but at 1:00 a.m. EST we’re going to be shutting things down, so please know this is planned. Now, on with the post…….
When I started the trading day on Monday morning, I was puzzled and startled by a rather large loss, because the ES and NQ were only up a little bit. It only took a moment or two for my eyes to land on the culprit: