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.

Gold and Miners Finally Bust Out

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As I wrote to my PLUS members on August 24th regarding junior miners, “..…as I look at the miners, I’m seeing signs of life. If you believe the breakout is meaningful and want to amp up your commitment, a good way to do it would by via the triple-bullish ETF symbol below, which itself has had a clean breakout from a rather long downtrend.

Well, it didn’t take long for this to blossom, as gold has broken out smartly………

0828-gld

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Took My Put Profits

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Earlier this morning, I sold my SPY October $245 puts for an overnight profit of over 50%. I have several remarks about this:

  • It’s kind of stupid of me to buy options that don’t expire for something like ten weeks and sell them the next freakin’ day, but what can I say………I’m a wimp.
  • I’m going to be driving 20 hours (round trip) to see the eclipse Monday morning, and frankly I’d like to enjoy it without worrying about my stupid options position.
  • I hardly ever trade options.………literally one trade for every few hundred equity trades…..but I had a “feeling” yesterday morning to give it a shot.
  • Most importantly, this trendline below compels me to not be greedy.

0818-spy

Of course, this all probably means a CRASH on Monday, so………you’re welcome!