Here's a stunning contrary indicator from about a year ago.
Is that not astonishing? Fox Business News launched within hours of the lifetime top of the stock market.
I imagine it won't be long before they shutter the thing.
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.
Stock Unavailable
I had a bunch of shorts to enter, but the vast majority of them weren't "in stock", and their prices are too low to make puts interesting (I prefer really high-priced stocks as underlying instruments for puts). So – meh – I can't even enter a bunch of these (marked with"xxxxxxxx" below); I've shown the stop prices for all of them, anyway.
AFL 49.09
BAX 53.88
COG 30.82
KGC 15.48
TAP 45.88
GOLD 38.24
SKT 37.35
XTO 44.44
ARLP 26.50 xxxxxxx
AIT 20.82 xxxxxxxxxxx
ASTE 31 xxxxxxx
ATO 25.24 xxxxxxx
CIG 17.19 xxxxxxxxxxx
BVN 18.10 xxxxxxxxxx
ESS 88.05 xxxxxxxxx
GEO 19.31 xxxxxxxxx
IRM 21.74 xxxxxxxxxxx
LDSH 17.86 xxxxxxxxxxx
LMIA 11.63 xxxxxxxxxx
NXY 20.61 xxxxxxxxxx
PTRY 23.51 xxxxxxxxxxx
RJF 21.98 xxxxxxxxx
SBAC 16.16 xxxxxxxx
SGMS 16.05 xxxxxxxxxxx
AMTD 13.31 xxxxxxxxxxxx
TRLG 13.73 xxxxxxxxxxx
URS 38.01 xxxxxxxxxxx
MTN 21.76 xxxxxxxxxx
XEL 19.22 xxxxxxxxx
Has Cramer Gone Pirate?
Has 2008 rattled Cramer so badly that he's taken desperate measures? Only time – – – and some in-depth investigative journalism – – will tell.
Short Ideas – Tranche One
Neckline
It's make-or-break time for the inverted head and shoulders pattern. After pushing to nearly 900, the ES has retraced to its neckline, and it is threatening to sink further, which would invalidate the pattern. (Take note of boldfaced horizontal blue line below)
My positions are so biased to the bear side that I'm OK with this, but frankly one last push deep into the "900s" territory would suit me fine too, since I could get shorts at better prices. The only big report out this morning is the Institute for Supply Management's manufacturing index, released half an hour into the open. That should help clarify direction for the day.
