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.
The “feel” of the market has absolutely changed. For 2026 as a whole, the sensation of fighting the beast has dissipated, and my disposition has morphed from defensive to opportunistic. I will have more to say later, but for the moment I’ll simply offer two thoughts:
First, the prospect of a truly meaningful breakdown is looking clearer than ever……….
Good morning, everyone, from the inky black of Palo Alto’s pre-dawn. I’m relieved to see so much green on the screen, not that I’m long anything (except for Rivian) but because I’m so light. I was rather troubled last night when I saw the market plunging again and figured I’d be kicking myself for selling off 70% of my DIA puts already, just as one example.
I will say, though, that looking at the volatility chart for 2026, it seems we’re in an environment of higher highs and higher lows, not the end of the dynamism.
……for the bears, I mean!
Principally, it is that many mega-assets are so battered. Take, for instance, the likes of IBM:
As grinding as recent weeks have been, we at least can see a very plain line has been drawn along the median between the sellers and buyers. The new about the tariffs being zapped was supposed to be a mega-bullish event, but with the /ES up 0.73% and the /RTY up 0.04%, it isn’t exactly one for the history books. I suspect next week is going to be chiefly about one thing: NVDA’s earnings on Wednesday. In the meanwhile, the line in the sand have been plainly drawn for next week.
Let’s tackle a big subject today, which is how to live our lives thoughtfully. I’ve been giving this some thought and would like to share them with you on this Presidents’ Day. Forgive its length, but, c’mon, the market is closed, so what else are you gonna do?
