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.
Send Me a Photo!
I figure anyone crazy enough to be on Slope on Saturday night or Sunday morning is going to be a die-hard, so here's my request – email me a photo (or even photos) or yourself to my email address, along with your screen name.
Why this strange request? I wanted to put together a fun little video of Slopers, since I was so inspired by our "real avatar day" last week. I'm not going to publish your real name, and my only interest in the picture is to include it in the video. Thanks! If I get enough of these, the result will be really cool.
Commiseration vs Collaboration (by Biffermas)
Longtime Sloper and blogger, Leisa, posted some great trading gems last week. The article is called, 2009 Reflections, and mentioned something that resonated with me.
Commiseration v. Collaboration: The blogosphere offers unlimited availability of opinions. You'll have no trouble finding opinions uttered by very smart and erudite folks that perfectly align with yours. Best to seek out people that disagree with you and try to understand their arguments so that you can find potential holes in your thinking. I've never seen any business venue where commiseration led to good outcomes. Commiseration and collaboration are not the same. Commiserate less; collaborate more.
Collaboration is a recursive process where two or more people work together toward an intersection of common goals. An intellectual endeavor that is creative in nature, done by sharing knowledge, learning, and building consensus.
The Slope is among the most collaborative message boards already. People freely share ideas and accept feedback graciously, provided it’s given respectfully. To stimulate the collaborative process I'd like to solicit trading ideas for this coming week, and anybody who wants to contribute is welcome. Simply post a chart on the forum, and I'll compile and follow them throughout the week. Winner gets the everlasting admiration of your friends here and 50 points clicked by me. I'll post the winner's chart, name, and immortal victory speech (if desired) next weekend.
A few simple rules for fairness: We'll mark the purchase price by Monday's opening, and the selling price on Friday's close. Either long or short is welcome. Stocks, 1x ETF's, and non-leveraged instruments only (no options or futures). I’ll simply measure on a strict % gain. Entries accepted all weekend, but ensure you submit on this post thread.
In the Flesh?
Apparently the notion of a Slope convention was field-tested on a small scale in Southern California recently. Early indications are that the gathering was a sheet cake of victory with a scoop of awesome on top.
The Triumphant Return of Salt
Last March, a comment was posted that I will never forget. It was by a Sloper named Salt who hardly ever posts here – maybe a few times a year – but on March 5th, 2009, he wrote the following………..
The reason the comment made such an impression on me is that it was clear, bold, and long-term. I also remember thinking in the back of my head, "My God, what if he's right?", because I had been making so much money on the short side, and I was really enjoying it. Hearing that the party might be over was a bit of a bummer (even though my October 2008 chicken scratch agreed with his disposition).
Well, as we all know now, he bought at precisely the bottom.
I was very excited to see last night the following post (remember, Salt hardly ever posts a comment, so any time he says anything, he's got my attention………..)
I wrote to Salt to thank him for his contributions to Slope, and I asked him how his other positions worked out. He responded, and he gave me permission to publicly post his reply:
Hello Tim, thanks for writing. First let me say that picking "the day" of the March bottom, or any top or bottom, is only a novelty, anyone could have made big money going long weeks before and days after that day. I did load up on calls, but sold 90% of them at the July top. Even with selling early, they still paid 5X to 15X+. I was sure there would be a short term correction along the way with a 15 to 20% pullback, had there been one I would have reloaded and would be sending my plane to pick you up. Unfortunately, chasing a nonexistent correction cost me about half of my previous profits. As I have mentioned, most of my account is handled more conservatively and is up about 3X. As sure as I was with that earlier call, I am now almost as sure that we are entering a whipsaw bear market that will last at least 18 months and end with the S&P under 500. This will include gold and related mining stocks. I will post here "near" the next bottom, this next bear market rally is where I think gold will really shine.
I want to again thank Salt for being part of Slope, and I welcome him back – with open paws – to the bear camp.
