Since Slope Plus factors into this post, I’ll mention this one last time .……..a coupon to Slope Plus for those of you considering it. I am offering a free month for you to try the service by clicking on this link. When you do, type in the coupon code winter2017 and it will give you the first month for free.
Note that this coupon is only going to be working for a few days, so don’t lollygag. Also please note this discount works for ANNUAL subscriptions as well, so you’ll save the most by going for an annual, since you get two months free already.
Besides all the normal extras you get as a Slope Plus subscriber, you’ll also be getting the very best ideas I’ve got (many of which have been doing really well, even in this market, as you’ll see once you have access). I hope you’ll give it a try. On with the regular post now…………
I have, over the long lifespan of Slope, mentioned some emotional scars from childhood during that period of time when it seems virtually everyone in my generation had a complete suck time: middle school. It seems that a few random verbal assaults of “fag” or “dick” can persist for decades.
I was looking at SPX doing my weekend charts on Saturday and a new high seemed likely and we saw that this morning. That’s great and decent looking possible daily sell signals are now brewing on both the RSI 14 and RSI 5. Ideally I’d like to see SPX go a bit higher to hit a trendline that I have above in the 2375/6 area, and Stan has a target slightly high at 2381, but I’m wondering whether it’s going to make it. It may be a slow road to get there if we do, and the 5min RSI 14 sell signal that has fixed isn’t encouraging for seeing that today. SPX 60min chart:
Just to give you some perspective as to this insanity……… (more…)
In the spirit of my “don’t let ’em scare ya” post earlier, I bought a decently-large position in TWM, the ultrashort ETF based on the Russell 2000. Thus, I have three positions in my”ETF-only” portfolio – – DXD (ultrashort Dow), DUST (triple-short miners) and TWM. As an aside I’ll mention I sold off half my position of DUST this morning at a nice profit, since Rev is scaring me. If this turns out to be a good move, I’ll congratulate my prudence. If not, I’ll blame Rev. Win/Win!
Super quick post just to say I’m not worried about the out-of-the-blue surge in small caps (see /TF). Keep your eye on the picture picture, even on an intraday basis.