It’s really all we needed.
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.
The Central Bank Bull Market ended on January 26, 2018. The new bear market began the same day. It seems almost impossible to believe, but it was only nine trading days ago that the NASDAQ, the last holdout, was at its highest level in human history.
What a day!
During all the trading mayhem, I did a Slope PLUS Post (you know, for the people who actually FINANCIALLY SUPPORT all my hard work………..) about shorting the XLU. Here’s the post. In it, I said it was time to short XLU. I’ve put an arrow where, I kid you not, is the exactly minute bar where the post went out.
Nestled, as you are, comfortably and relatively anonymously behind your keyboard, it’s difficult to grasp The Risk Of Weinerdom that I have to embrace every single day by making public pronouncements about the market. And yet this is my chosen profession. Yesterday, when the market exploded higher across the board (see arrow), I briefly felt like an unlubricated marital aid, but I stuck to my guns (and my positions), based on everything I’ve been yammering on about lately. It’s gratifying to wake up to the following.
Just a tiny sample…….
Back on January 26th (the lifetime top of the stock market, as it turns out), I wrote a piece called Overhyped in which I suggested shorting Overstock. I liked the chart, and as I said in the post: “But the ONE time I bought something from Overstock was just a nightmare, and I was amazed the company was even in business (plus their CEO has some weird hangup about short sellers). So – – feh! – – I’m short.” So far, so good:
Well, this is the first down month we’ve had since President Courageous Super Business Guy Deal-Making Genius got elected. It’s almost impossible to believe, but we haven’t had a single down month since October 2016. This is also the biggest loss for a February since 2009. Needless to say, I’m pleased we’ve broken this streak. We can see quite plainly the top, the drop, the recovery, and – – God willing – – the resumption of weakness.