No one is talking about SPCX anymore, but I think its behavior is extremely consequential, particularly here in the Silicon Valley.
Houston, we Have a Problem
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.
Propitious Exit
Not a great morning for Timmay thus far. I’m down a little less than 4%, and I’ve trimmed risk from 200% to about 115%. The good news is that I managed to exit some higher-risk positions (such as SMH October puts) yesterday where I’ve marked the circle (even though this is the /ES chart) which saved me a nasty, nasty loss. I’m in 34 positions, almost all of which are still profitable (I’ve thrown the losers off a cliff).
The Price of Comfort
I retain stop-loss orders on all my positions. On occasion, fewer than ten times a year, I am facing a really tough morning in which I need to decide whether, one, just to grit my teeth, let a portion of the positions get blown out by their stops, or two, delete all the stop orders and re-enter them with the hope that the worst of the buying will be done soon after the market opens.
Today, I decided to just let the stops stay in place, and the result was that I got zapped out of some of my positions at pretty much the worst prices of the day. This psychological “insurance” cost me many thousands of dollars. It would have been better to have just strapped on a pair. This was a $10,000 insurance premium that was valuable for about five seconds.
Fadeless Morning
Good morning, everyone, and a happy Thursday to you.
Well, I admit it, I was hoping that for whatever reason overnight that Micron mania would fade, but no such thing has taken place. It is at lifetime highs and is going to vault massively higher on the opening bell. As a reminder, I have no position in Micron, but this is definitely going to be a gut punch due to related positions I’ve got.
Lighten Up, Francis!
It’s been a terrific morning, and I took profits by covering such items as EWY, GDX, and XME. I went from about 150% committed to 125%. It was actually less, but I took on a substantial short position in IWM based on its big bounce. Below is the /RTY, which illustrates how the futures roared higher (inexplicably) but have begun to falter at the broken trendline.
