Slope of Hope Blog Posts
This is the heart and soul of the web site. Here we have literally tens of thousands of posts dating back over a decade. These are listed in reverse chronological order. You can also click on any category icon to see posts tagged with that particular category.
Steak and malbec. Applause. An unexpected photograph. ES up over 50. Laughter at the bears. Cancellations from those too cowardly to stand fast. Absolute certainty that lifetime highs were on the way. Praise of our really smart, great-father, great-husband President. And plus he’s a genius businessman and really honest. You fucking bet. And then……….
Meanwhile, I have my Blue Bottle, I’m watching Magnolia, and I am updating my stops. I am the light fighting the darkness. And the light is going to win. But I’m not going to insult your President, because he’s just a great, great guy. Absolutely.
Well, my tweet this morning pretty much said it all:
I’ve mentioned Chico’s (CHS) again and again and again as a short idea, given its huge dome pattern. It’s been kind of a frustrating position, but today it finally paid off, plunging nearly 40% within minutes. I went ahead and covered at about $4.50, although I would be delighted to short it again on any meaningful bounce.
The crucial support level I highlighted in last night’s video has been breached.
I am, as you might imagine, ungodly busy right now. YOU trying managing 90 short positions and running a business at the same time! It’s a good thing they are related.
In any case, I’ll try to be prolific this weekend. In the meantime, enjoy the selloff. I am sticking with every single one of my positions.
My big winner this morning is Ctrip.com, symbol CTRP which was down almost 20% after earnings:
I’ve been describing this as a “stock picker’s” market recently. Allow me to show a very specific example. Or, should I say, ten examples.
Back on September 15th, I did a premium-only post called Sector Focus: Manufacturers. I have changed the post so that everyone can see it now. I had ten specific short ideas. One of them – ARRS (its symbol changed to AIR, apparently) went up a little, so that was a loser. But most of them did great, including one, MHK, which was down almost 40%. Keep in mind, this is in just over a month.
Overall, the drop was 17.21% even with the dud, which is over TWICE as big a drop as the S&P 500. So……….that’s what I’m talkin’ about!
Last Tuesday, October 16th (which feels like, oh, about half a year ago), the market bounced mightily from the first phase of its selloff. I proposed four potential outcomes, which I named Alpha, Bravo, Charlie, and Delta. Delta, the last one described, was the most bearish, and I projected it like this:
Tip of the hat to MoneyMiser21 for this post about shorting WWE. It’s been a gem. And, unlike wrestling, my gratitude (and profits) are not fake!