The New WallStreetBets: TikTok
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.
The Horrid Grind
Why does the market have to be like this? Especially to a nice guy like me?
Here, let’s take Netflix as an example. This is a perfect instance of the kind of pulling-my-hair-out insanity I’ve been dealing with. Below is a chart of NFLX. The first arrow marks, at 9:57 a.m., where I bought June puts. Now even though these goddamn things have MONTHS of time on them, a mere two hours (!!!) later, where the second arrow is, I dumped them at a loss of about 7%. That was very close to the top tick of the day. By the close, they were nicely above my purchase price (and, of course, the daily chart looks terrific, which is why I bought them in the first place). Jesus!
Now THAT is a Shooting Star, Baby
Remember how I was all freaked out about cryptos breaking out and creating a new equity bull market? For the moment, that seems to have been beautifully aborted.
The Return to 214 on 2/15
Tesla got down to about $189 yesterday morning before the George Soros Loves TSLA news came out, which rocketed it higher. There was more good news for the company in the form of the Biden administration announcing a plan to make all their superchargers compatible with all EVs, and to pay for the cost of the conversion. The company matched its $214 peak (well, strictly speaking, a couple pennies shy of that) from last week. Let’s see if that Fibonacci holds again!
Range-Bound or Run Away?
First off, as a reminder (and I’ll only do it a few dozen more times, promise) please click the bejesus out of my Solid State book link. I’m told it’ll help. Go ahead and click it, please! I’ll wait. Thank you!
As for the market in general, obviously everyone is going to sit on their hands until 8:30:00 on Tuesday morning. Looking at the big indexes, it’s interesting how all the NASDAQ Composite did today was push itself precisely back to that horizontal line (which is now acting as resistance, albeit modestly).
