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 decision on December 26th of last year to dump virtually every short I had, buy GUSH, buy FAS, and short bonds, was the result of some of the most shrewd, most clear-headed thinking I’ve ever done.
In contrast, my impatience and eagerness to jump back into the world of bearishness, having had such a great quarter in Oct-Dec, was one of the worst. Indeed, in my own words from this post of December 26th:
Ya know, as hard as the past three weeks have been for bears, I was hanging in there just fine……….until THIS bolt out of the blue:
…..bears take warning. Indeed so.
It wasn’t that long ago I would be pretty jazzed about big red numbers to greet me at the start of the day. Ever since Mnuchin fired up the PPT machines, though, red numbers are meaningless. The equity markets simply get bid up through the day. Just look at the /ES chart below:
What a difference a single month can make. Observe the chart of the natural gas market below. Once it pushed past resistance (pink horizontal line) it went roaring higher, devastating – – notably – – James Cordier and his OptionSellers.com fund, purportedly to the tune of $200 million. And then, equally as fast, all the gains disappeared. It’s as if nothing happened.
