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.

What’s Working

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I'm sorry to be so quiet lately.

Let me start by saying that this pattern on the S&P looks pretty danged bullish. I'm reversed my position on the ES from short to long (at a loss of a few thousand dollars) since this is definitely a handsome basing pattern. (Update: Errr, yet again, I've changed e-mini horses, and I'm short the ES at 911.50).

I've said it fifty times, and I'll say it again – – Hope, Renewal, Change, Redemption, Resurrection, and all that fluffy hoo-ha are going to be tra-la-la'ing through people's hearts over the next six weeks. Christmas (yes, I said it, Christmas), New Year's, and Obama are all going to put love and bullishness in the hearts and minds of investors.

The slog toward this optimism has been really slow in coming, but let's face it………..commodities (particularly gold) finally did rocket higher, and the EUR/USD explosion over the past couple of days in the stuff of legend. To me, the whole EUR/commodity bounce seems overdone at the moment……….

What's working for me right now is (cough, cough) my long positions. I am semi-miserable setting aside my uber-bearishness, because trading in a downward plunge is the most fun you can have with your clothes on. But the burial of 2008 is going to get people giddy again.

I still have plenty of shorts, especially in the precious metals arena. My puts have been getting whipped pretty badly, but my blend of long/short has served me well. My "all-bull" IRA is at an all-time high right now, and, as always, I continue to update stops.

EUR/USD Rally

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Wow, the rally in EUR/USD has been absolutely explosive.

In a very short amount of time, it has almost completely retracted its fall. I don't think this has very much further upside, if any; therefore, I am buying puts on GDX at these levels.

As for oil………..looking at OIH, it's pretty amazing how it has barely budged. If this kind of action in EUR can't move energy higher, I don't konw what can.