One of my oft-mentioned retail shorts is getting zapped this morning, with Chico’s – – purveyor of fashion to women of a certain age – – off about nine percent. I think it’s got LOTS more to go.
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.
Ka-BOOM!!!
I don’t think there’s ever been a single stock I’ve suggested as a short more than Finish Line (symbol FINL). My poor tastytrade viewers probably got sick to death of hearing about it, but it’s one of the most amazing topping patterns I’ve ever seen, and given how far it’s fallen, I doubt anyone’s bitching about my frequent mentionings of it.
One problem I’ve had as a trader is covering shorts too soon. One great example is Chicago Bridge & Iron, which I yammered on about endlessly as well. It did indeed fall hard, and I took my profits. The problem is……….it won’t stop falling.
Gold and Miners Finally Bust Out
As I wrote to my PLUS members on August 24th regarding junior miners, “..…as I look at the miners, I’m seeing signs of life. If you believe the breakout is meaningful and want to amp up your commitment, a good way to do it would by via the triple-bullish ETF symbol below, which itself has had a clean breakout from a rather long downtrend.”
Well, it didn’t take long for this to blossom, as gold has broken out smartly………
Took My Put Profits
Earlier this morning, I sold my SPY October $245 puts for an overnight profit of over 50%. I have several remarks about this:
- It’s kind of stupid of me to buy options that don’t expire for something like ten weeks and sell them the next freakin’ day, but what can I say………I’m a wimp.
- I’m going to be driving 20 hours (round trip) to see the eclipse Monday morning, and frankly I’d like to enjoy it without worrying about my stupid options position.
- I hardly ever trade options.………literally one trade for every few hundred equity trades…..but I had a “feeling” yesterday morning to give it a shot.
- Most importantly, this trendline below compels me to not be greedy.
Of course, this all probably means a CRASH on Monday, so………you’re welcome!
