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.
This is very, very important.
The NASDAQ Composite is at a moment of truth. It has BOUNCED and FOUND SUPPORT at the only trendline that matters. The last time it did this, twenty-three months ago, it went on to extraordinary gains, and the bulls stomped the living guts out the bears.
Know this: if our bullish friends can’t find support here, they’re going to be screwed, and screwed for years. The time is now.
Trillions of dollars in equity lost. Silicon Valley stocks down 40%, 50%, 70%, or more. Dejected and disillusioned millennials. The smoldering ruins of the failed cryptocurrency industry.
I’m honestly not sure how much more happiness I can take. On top of it all, Slope traffic is going absolutely apeshit (which is kind of bad news, in a way, since we’re frantically trying to keep up with the demand of our suddenly very, very popular website).
And to think this is just the start of a multi-year, global bear market that is going to bring utter ruin to so many. I can hardly stand the excitement. Thus, I thought we’d catch up on my short term “Omega” prediction, which I’ve discussed before, most recently here.
Specifically, where do things stand with respect do the conjectural pattern I suggested? (more…)
My post about the ruination of OptionSellers.com got a huge amount of attention. Traffic to SlopeOfHope.com was bigger on Sunday than any normal day of the week (which explains why it’s been so damned hard to get on the site lately…….). The most common question I heard was: “what exactly were the positions?” I had no idea………until now.
According to my sources, here are the positions they had on: naked short calls (left side) and naked short puts (right side), all on natural gas:
This is a cautionary tale. A tale of a fund of nearly 300 clients and nearly $80 million which blew up in the span of hours from a market move that was, in the grand scheme of things, not that big a deal. It illustrates how excessive leverage can completely torch the risk-taker (and, in this case, his clients). And it just happened.
The person in question is James Cordier, who is a bestselling author of books about options. One glance at Amazon, and you can see the myriad of volumes he’s written on the topic:
A Santa Claus rally. A trade deal between China and the U.S. A straight shot to 3,200 on the S&P 500. The bullish stories are flooding the airwaves. After all, the vast majority of “traders” and “investors” have never experienced a bear market before. Equities dipped a little in October, and people don’t like it. So they’re trying to wish it away.
Maybe they will. Maybe the won’t. We remain at a crucial juncture. Last week was largely a waste of time. We did get a nice selloff on Monday, but after that, it was a circle jerk, with desperate rumors from D.C. about a trade deal attempting to prop things up.
On the ES, the two tinted areas are all I care about right now. If, God forbid, we cross above the yellow tint at about 2757, the bulls are going to grab the baton. It wouldn’t take much in the way of news to make it happen. Another plausible rumor about China would do the trick, although the way Pence is handling it, maybe I shouldn’t worry so much. A failure of the green line at 2711 would shove a silver stake through the pattern’s heart. (more…)
