USA Today, a newspaper favored by the illiterati of America with IQs solidly in the upper double-digits, did me a service today by publishing this on their front page………..right at the top: (more…)
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.
Why I Shorted Brazil Yesterday
During yesterday’s It’s-Tuesday-So-Buy-Everything ramp, I noticed that Brazil’s equity ETF, symbol EWZ, was quite weak, and it was actually in the red for most of the day. I shorted a decent amount of EWZ, and now that today has some overall redness, EWZ has been particularly weak; in fact, it’s the best position I’ve got today. I think we could see the high 40s on this symbol within a couple of weeks. (more…)
Say Hello To My Little Friend
HE’S BACK….
Alright, let’s examine our little friend XLU:SPY. As you’ll recall (you’ve seen this chart about 5 times in the last 3 months) that this is the relative chart where utilities are compared to the Standard and Poor’s 500 index, I use the SPY because it is a liquid etf . When the SPY is strong, the red line goes down and when the XLU is outperforming the broader market, the red line will go up. The black line in the back is the SPY. (more…)
Don’t NOC It. Actually, Do……..
Northrop Grumman has, like most defense sector stocks, been on a huge tear lately, but it is terribly close to its Fibonacci fan line. It may have a little higher to go, but the likelihood of it taking a substantially drop is growing each day.
Interest Rates Ready to Relax?
Bonds had their biggest drop in 19 months yesterday, but I wouldn’t be surprised to see bonds rally some from here; interest rates have gone very far, very fast, and are approaching what I consider to be an important resistance trendline. (more…)
