You can add this to the mountain of puts I sold too soon. Wingstop (WING), about which I’ve written many times here, is engaged in another huge leg down.
Clipped Wings
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.
You Have Been SERV’d
Nvidia dumped their stakes in two public companies today, and this lack of support is hitting them both hard. First there is Serv Robotics (SERV) which had been hammering out a beautiful base which is now ruined.
Silver! Finally!
Only about thirty-six hours ago I did a post called Can Silver Come to Life? in which I bemoaned the fact that silver had been grinding away, going nowhere for months. I actually had a final paragraph in that post which declared I didn’t really care, since I didn’t have a position, but upon further reflection, and a commitment to the longer-term, I went ahead and not only took on the biggest position in PSLV I’ve ever had, but I also bound a bunch of silver bullion just for the hell of it. Thus, I deleted the “I don’t even care” paragraph in the post.
How pleased I was to see this morning that /SI is up over 4%!
A Shoo-in of Luck
This doesn’t happen often – – well, almost never, really – – but I totally dodged a bullet by sheer chance. You see, on January 6th (there’s that date again!) I went long CROX $125 puts expiring in September. Yesterday, even though there was obviously a ton of time left, I sold them at about a 65% profit, as illustrated by our beautiful Options Charts page.
A Random Dog Walk
…….down Wall Street
Only a few days ago, I saw the patch of sidewalk in Durham, North Carolina where the market bottomed. On the morning of October 13, 2022 (no, I do not have to look up the date) I was walking one of the gazillion dogs I have brought into my life (Rolo), anxiously holding on to my iPhone and awaiting the CPI report. 2022 had been a superb year for me, as well as for Slope, and I was waiting for the next leg down in the bear market to take place.
The CPI number hit, and it was hot, and the market plunged……….for a minute. I didn’t know it at the time, but, thanks to additional trillions of dollars that our idiotic and short-sighted government hurled at equities, the Dow would have 20,000 points added to its value in the span of just a couple of years. It goes without saying that the event is seared into my consciousness both vividly and painfully.
In sharp contrast, I was walking a different dog this morning, anxiously awaiting the CPI, and it came in hot, just like before.
