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.

Shouldn’t Something Happen About Now?

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The surging popularity of Slope isn't lost on political pollsters, and in a desperate move to turn their fortunes around, the Clinton campaign contacted me not long ago so that Hillary herself could provide running commentary during the trading day.

Sadly, given the market's behavior of late, this went poorly for both viewers and candidate alike. I managed to get a screen shot off Slope TV.

It seems to me that it's about time that Something Happen. After all, weren't we getting a Bomb-Per-Week recently? C'mon, market newsmakers – show your stuff! Let another investment bank fail!  Expose a fraud! Something! This is getting dull! You can even see the dullness in volume shriveling up. It's less than half what it what a week ago!

Oh, this is totally random, but I offer you the least surprising event of my Facebook news feed today.

The Fibonacci retracement has been doing an admirable job keeping a line in the sand from being crossed. I hope it continues to do so.

What if it doesn't? What if the IWM, in spite of yet more economic bad news today, pushes above the 70.35 level? Well, there's a much bigger line in the sand above that. Of course, if it crosses above that, I don't even want to think about it.

I am somewhat heartened that maybe this little bull run has petered our. At least that's what the slow stochastic is indicating to me. I've tinted in prior instances of the SS pushing above the 80 line.

You can see in the lists on the right column what my holdings are, and investment banks are scattered here and there. When I look at a graph like this, the possibilities to me are very exciting.

 I'm going to close it here. I'm not as chatty as usual, because there isn't nearly as much to chat about. But I'm waiting for another shoe from the centipede to drop. Until then, we wait. Like Hillary.

National Amnesia

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Well, it's nearly midnight on Monday as I'm typing this, and I suppose I felt compelled to put up a decent post in light of the lame-ass ones I submitted Monday. Call it blogger's guilt.

I get the feeling investors have severely impaired short-term memories. Anytime there's a lift in the market, the assumption is that all is well, and all the problems people were screaming about just a few days prior seem a distant memory.

Of particular interest to me is watching securities that are getting pummeled to death have frequent "pauses that refresh." You can just picture during every one of these instances people saying, 'Well, it looks like a nice base is forming and the selling is over. This looks like a buying opportunity." And then the stock breaks, and it's on to the next delusional bout. Just take a look at CFC to see what I mean.

I took advantage of the big surge up in prices lately to get more aggressive on the short side. I made some nice profits on the pop between last Thursday and today. I found the volume on IWM especially interesting. Just look at how the volume is shriveling up each day of this bull run. Not much oomph behind this rally, is there?

Of course, the insanity behind all the investment banks is a big part of this recent run-up. BSC is a basket case. But look how powerfully the XBD has rallied. To me, this retracement to the Fibonacci retracement level simply hammered home the shorting opportunity for me.

Here are a sampling (out of 50 open positions) of charts on which I have bearish positions. I've embellished them a little to help illustrate my rationale.

 All right, my guilt is passed. Off to bed………..see you Tuesday.