As oil went on its biggest up-move in history, I had some concerns about the handful of energy-related shorts in my portfolio. Turns out, as I hoped, that it wasn’t worth wringing my hands over. Just because the commodity itself (crude oil) roars higher in price doesn’t necessarily mean great news for the companies which seek it or process it. Take Marathon Petroleum, for example, one of my shorts. Its down about 2.5% right now, and I think far lower prices are in store. The symbol is MPC:
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.
Preface to all four parts: I am presently short forty-three different equities, and I wanted to share them all with you. I’ve got 20 to share with all members and the other 23 for gold and diamond members only. As always, click on any chart for a large version, and use the right and left arrow icons on the big chart to navigate through the entire set.(more…)
One of the standout momentum stocks of the past year has been Planet Fitness, but it’s become quite evident that a reversal of fortune has taken place. The topping pattern is complete, and even at these levels, the P/E ratio is more akin to a biotech startup than a company that sells memberships to people who sign up for the gym but don’t bother showing up.
After the flagellation the bears have received over the past two solid weeks, it’s not surprising that I am not exactly frothing at the mouth to short anything (which, in itself, is probably your best sign to short). I have tiptoed into a few more positions, however, including these two below.
First is Box, on which I have a stop-loss of $18:(more…)
Not a terribly exciting day; it’s what I call a “defensive” day, in which I trim shorts that aren’t working out and tighten up stops on those that are. I also shorted six new ones, which are below. As always, click on any chart for a big version, and use the arrows on the big image to navigate the gallery.(more…)
I presently have 57 short positions, and 7 of them are banks. Below are the charts of the seven banks whose stocks I am presently short:(more…)