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.
For me, trading this market has morphed from an electric thrill to a tepid bore. The reason is simple: the nonstop threats/TACO cycle is exhausting, and making trading decisions that can be upended by the unhinged whims of a single man isn’t my cup of tea. It’s “Chinese trade talks are going well” all over again.
You can see the market’s bewilderment by way of the /ES grinding away with absolutely no clear direction for days on end…………
Yikes. The guy sure knows how to turn allies into adversaries, doesn’t he? No wonder he’s has so many failed marriages.
Happy New Week, everyone. This is a shortened week (although at least this time the holiday is one I respect, so it’s not quite so awful), so we only get four days of war-driven lunacy to trade.
I was bracing myself all night long for the Monday Morning Lie, traumatized as I was by what happened precisely one week ago. On Sunday, the market gapped down fairly hard (left arrow) but then spent all night long climbing. Finally, once again a couple of hours before the opening bell, the Pre-Market Fib was launched, and the market spiked (right arrow).
Most of you have heard of the classic book about trading written over a century ago named Reminiscences of a Stock Operator (by Edwin Lefèvre). There is a tale within that book which I used to find perplexing, and even kind of annoying, but I think I finally get it. Here’s how the text reads:
His name was Partridge, but they nicknamed him Turkey behind his back, because he was so thick-chested and had a habit of strutting about the various rooms, with the point of his chin resting on his breast. The customers, who were all eager to be shoved and forced into doing things so as to lay the blame for failure on others, used to go to old Partridge and tell him what some friend of a friend of an insider had advised them to do in a certain stock. They would tell him what they had not done with the tip so he would tell them what they ought to do. But whether the tip they had was to buy or to sell, the old chap’s answer was always the same. The customer would finish the tale of his perplexity and then ask: “What do you think I ought to do?”
(more…)Considering there’s a freakin’ war going on, you’d figure the trading day would be electric, but I guess since no one knows what on Earth is going on, we’re at a stalemate. I’m going to go work on a project (charting-related, of course) since there’s only so long that I can stare at this oil painting before I lose my mind. See you later.
