Over the past five trading days, there’s been about a year’s worth of market action. For those day-trading this successfully, I tip my paw to you, but for me, I’m content with my 30 little short positions.
The New Normal
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.
Laissez les Bons Temps Rouler
Yesterday evening, the market had a micro-crash based on rumors that Iran was getting bombed (of all places!) Those rumors were quickly dismissed, and the market had a shaky recovery all night long.
As of half an hour before the opening bell, equities are bruised but no longer battered. When the Bible speaks of wars and rumors of wars, this is probably the chart it has in mind.
What If This is Wave Two?
I’ve traded long enough to have an opinion on Elliott Wave (at least the kind proffered by our friends in Gainesville). It’s misleading/worthless/harmful in bull markets and nearly invaluable in bear markets.
The question is: what kind of market is this? Yes, yes, we’re at lifetime highs every day, so you’d think I could figure it out. All the same, what EW proposes is that we are at the top of Wave 2, at least as it concerns the Dow.
Battered Into Submission
It’s been a rough six days. I’m not just talking about the market. I’m also referencing a technical issue I’ve been grappling with which has involved my most intense problem-solving skills. Between that and this insane market, I’m ready to grab my knees, sit in a corner, and rock back and forth.
Yet I suppose I’ll just type this post instead.
The Sunday Night Shrug
Hey, I guess I should be grateful everything isn’t raging green to new highs, right? Not yet at least.
In the least surprising event since someone released a hammer and it fell to the ground, equity futures erased the majority of their Sunday shock drop. On the heels of the mega-rally of the past few weeks, the news over the weekend would normally have crashed equities, but as I stand here before the opening bell, futures are down about half a percent or so. The universal ticker symbol is now BFD.
