My view of this is pretty simple. Bust above 88.15, and that's bullish (and I'm not just talking about OIH, but for equities in general). Fade away from this level, and that's bearish. This is the clear line in the sand.
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.
So Worldly, So Welcome
Bought puts on MA with a contingent stop at 171.81
Michael Phelps’ Trading Idea
It has been a while since I've used just plain old simple Fibonacci Retracements for ideas, but POT looks like a beauty for puts. Once the initial half hour of the day has passed, I'm buying POT puts with a 96.29 contingent stop.
The Stimulus Package: Shovel Ready
You people is crazy.
I do a quick Sunday night post, go out and drink heavily, and come back to nearly 200 comments.
So, once again, I'll reset the comment counter. Ding! As you were, folks.
Shooting Gallery
Just a quickie before I sign off for the night……….I went through all my charts this weekend, and I was astonished at how many great shorting opportunities there are. The S&P's climb has been really feeble, but there are some stocks which have enjoyed robust climbs that seem absolutely ripe for the picking. I'm also encouraged by the drop in this evening's /ES, and I'll look to enter some new shorts in the morning, assuming the environment remains favorable.
