I’ve never been so wrong about a pattern as I was about the Dow Utilities earlier this year. This diamond was straight out of Technical Analysis 101. It was beautiful.
Hercules Kilowatt
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.
Addicted to Getting High
As we all await Powell tomorrow, and the market just keeps grinding its way higher, the retail report came out. For the second month in a row, it was a big miss, aligning with my judgment that we are in a recession and are heading much deeper into it. Weirdly, this bad economic news is just what the bulls wanted to see, since it feeds into the interest-rate-drops-are-good narrative.
Bummer Bar
Triple Pain
Until about twenty-seven hours ago, I couldn’t get enough of this market. As it is now – – yuck! My only salvation is my 40% cash position and the fact my options are all 2025/2026 expirations.
This week has had three rallies. The first (red arrow) I completely expected and was prepared for. The second, is blue, was the Jensen Huang rally, was a shocker and completely wiped out the relief from the CPI release. The third, in magenta, is what we’ve seen just over the past couple of hours. The market is back into “ramp and camp” mode, and I am not a fan.
Three Big Fish That Got Away
Below are three stocks that have these things in common: (a) I identified them all as bearish candidates when they were vastly more expensive (b) I bought puts on them (c) I sold the puts not long afterward, probably at a loss (d) I missed out on multi-hundred-percent gains on CONSERVATIVE (many months out, in the money) put options. What a dope!
