I'll do a post later today; in the meantime, I am blown away by this story hot off the wires about a Palo Alto resident who is accused of embezzling something like $65 million from Fry's Electronics. We seem to live in a new age where greed is getting exposed (with Madoff being the Emperor of this phenomenon).
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.
That’s The Way (Uh-Huh, Uh-Huh……….)
At this point, support is at 850 and 815 (give or take).
Cut below each of those, and you'll see a sellstorm.
Russell Resistance
It's going to be tempting for me to revert to my old "one post a day" habit, since there's so little to talk about, and I don't get any jollies out of "filler" material. In any event, here's another good index chart to keep in mind – the Russell 2000 – along with its corresponding resistance range (around 500; the light pink area at the top is the huge honkin' head and shoulders pattern, whose target price was long-since fulfilled).
Four Long Shots
Here are a few stocks I'm buying as "long shots" – – battered issues that stand a good chance of a high percentage gain in the coming weeks. I've had good success with such picks so far this month.
China Fades
Until 2009 is here, most of my trades are opportunistic. FXP is one such example. The $CZH, Amex China Index, is finally starting to fall away from its resistance levels.
Based on this, I bought FXP yesterday, and so far it's moving up decently.
Next week is going to be nerve-wracking, because it's hard to say if the first week of 2009 is going to bring a rush of buying. In other words, I wonder if it makes sense to take profits on trades like the one above, even if there's no technical reason for doing so.
I'll tell you this much – – if the first week of January is as squishy and anemic as the current market, the bulls are in for a real drudge; and, frankly, so are the bears, because we need the market to get bid up some to give us better opportunities.
