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.
They’ll Never Stop
It's insane. No matter how often people "call a bottom" and then are proved dead wrong, they just keep doing it.
As for speculation that the recession could last until June……….why does any economist still have any credibility? Let's check in with Bill Clinton on his marital fidelity, Oprah Winfrey on her diet, and Governor Blagojevich on political integrity while we're at it.
Anyway, for me, the big news is that the EUR broke above an amazingly well-formed base (and is still above it, ever-so-slightly) yet equities fell out of bed. Earlier in the day, I was going to buy DUG and suggest others do the same, but I was scared of getting a lot of egg on my face. Oh, well; it turned out to be the right call. I still did well with FAZ, SRS, and 165 other positions. I only got stopped out of a handful of items.
I might do a post later today. I see the ES is down 11.50 as of this writing (50 minutes after the normal market close), but to my view, it's also approaching a trendline and a retracement level. I think I'll cover my new ES position (entered at 871) for now and play it safe.
How DO You Say His Name?
From the great state of Illinois' web site of the First Lady…….an awkwardly appropriate book pick…….
Playing it a Skosh Safe
Quite a day! At the moment (40 minutes prior to the close), I have:
- Covered my ES short (thanks, as always, 2sweeties………..)
- Trimmed my marvelous FAZ just a little (from 2,500 shares to 2,100)
- Tightened up stops across the board.
The next three trading days are packed with economic reports. The EUR is still above its breakout level at 1.33. A failure beneath that line would be great for the bears.
Why Do People Listen?
Sometimes I just have to marvel at what I read. This article on SeekingAlpha excitedly describes how "Heebner Turns Really Bullish on Market." I was intrigued, thinking perhaps some uber-bear named Heebner had some interesting perspective to offer. I was particularly interested that the author said of Heebner's fund "….CGM Focus has an excellent long term track record".
Knowing nothing of Heebner or his fund, I decided to take a look at his excellent track record.
Wow. That's pretty awesome. The author concludes the article stating, "Ken Heebner, who went on record as having turned bullish in October, is showing now that he has turned really bullish.".
I guess I can take some solace in that.
