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.
My Slope+ folks (again – I think it was them – – my brain is tapioca) saw GNW as a suggested short last weekend, and it paid off yesterday – – but then again today. This chart is a little out of date, because now, it has even sliced through the Fibonacci fan level shown! I originally was showing this to illustrate how it had nailed the fan line, but the market is so weak, even that isn’t holding it up.
Good God, this trading business is for the birds. There’s no such thing as a real vacation. Particularly when I’ve got a blog that I feel compelled to contribute to (although I’m insanely grateful to iggy and contributors for keeping things going).
Anyway, there are a ton of success stories lately with ideas offered here, but one I’ll toss out is Ocwen Financial, which I’ve been harping on endlessly both here and on Tastytrade. My options are zooming higher today. I’ve closed 25% of the position but am cheerfully holding on to the rest for potentially bigger profits.
Well, I’ve been having a good morning so far. A triple-digit percentage gain my AMZN puts (I dumped ’em at the open), and I’m beating the averages (inversely-correlated) on my short positions. I think a reasonable path for the ES is something like this:
Well, after losing money year after year after year after year, Amazon has perhaps finally worn out its welcome. I am gleefully – cheerfully – both short the stock AND long the puts, so I’ve already decided Friday is going to be a cool day. What’s particularly nice is that the stock is doing poorly in this completely retarded, helium-filled environment, so if – God forbid – the general market started to soften, Amazon could easily lose half its value. Easily.
On Saturday, I did my “Saturday Sooners” post, which – at the top of the list – included BancorpSouth as a short pick. Here we are on Tuesday morning, and plunge-a-roony. It’s a great example of a head and shoulders pattern in action.
