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.

Russell Resistance

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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).

China Fades

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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.