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.
It has been no secret that Tesla, which was heralded as the greatest stock in the universe until 2021 (and which I highlighted as a long position in 2012 before anyone else was talking about it) nas become a total dog. The Magnificent Seven is now merely Six, and the relative strength of TSLA versus the QQQ makes its demise as plain as day.
When I sell a position, I make a space for it in my spreadsheet so I can track what it did afterward. As you can well imagine, the dozens and dozens of put positions I’ve closed over the past couple of months have been blasted to smithereens, which means, first, that I’m glad I got out, and second, this market is quite obviously going to roll over bearish positions with a Mack truck.
Out of 40 positions, there are merely two that are in the green. That is to say, only two were so incredibly defiant (which means WEAK in their stock price) that they’ve prospered. One of them is XLU, which is our old friend. The other, shown below, is Freeport McMoran (FCX). My point here is that if, in the face of all this insane bullishness, FCX can continue to make money for the bears, then it has some serious, serious troubles ahead.
Remember Buzzfeed? They’ve been around more than a decade, but it looks like, even with massive amounts of funding, they’re heading for the dustbin of financial history.
In the midst of all the Nvidia obsession, there was actually a MUCH bigger mover after hours: Rivian, the electric car maker (or, more specifically, the electric truck maker). I always liked their design, but Good Lord, their business is doing poorly.
