The creator and owner of Retracement Levels, “2sweeties“, has been on Slope of Hope for many, many years. He was a very frequent participant in the comments section in 2006 and 2007, but as the financial crisis heated up, and more and more people kept asking him questions about his product, he focused on building his product instead of hanging out on Slope with the rest of us. (more…)
Nearly 1,000 points nicked off the world’s most famous index. Not a bad way to start the year.
Here are today’s stocks from the watch-list:
Long Consol Energy (CNX)
At the close last night there was an excellent bull setup that targeted the 1817 area and was as solid as any I have seen in the last few years. SPX had broken back above the daily lower bollinger band with conviction, I had clear RSI buy signals on the daily RSI 5 and the 60min RSI 14, and a double-bottom that has broken up targeting the 1817 area. All this from a bounce at major support with a newly established rising channel.I posted this SPX 60min chart on twitter last night showing the bull setup there and it was a sweet one. SPX 60min chart: (more…)
My success with natural gas trades is so poor that I’ve pretty much sworn off the stuff. In spite of it, I’d like to quietly point out (although not actually do anything about it) that the breakout, followed by retracement, of UNG looks like an awfully good bullish setup.
JC Penney is at levels not seen in over a third of a century. Do you know who was President of the United States when JCP traded around here? Jimmy Carter. Which makes sense, considering the fashion sense of the era.