Well, it's the end of the week again, which means I officially lose control of the comments section. Let 'er rip, Bovine.
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.
Last thirty minutes of the week; time for PPT shenanigans. Crank up this tune and hang on tight. It should be our theme come this Autumn.
This is one of those "one that got away" stories that provides a lesson.
I bought Xerium (XRM) as a lottery pick early in May (see upward-pointing arrow). It looked to be on the cusp of a cup with handle breakout. I was disappointed that it didn't break out, and it actually sank away from the breakout point.
After a week, I grew tired of this stock "doing nothing", so I dumped it. There wasn't any technical reason for doing so (because I had bought it in anticipation of a breakout, so there was no "violation"); I simply wanted it off my screen since it wasn't performing. (Down-pointing arrow)
It took a couple of more weeks, but then the stock really took off – — just as I had originally expected. The lesson? Being bored is no reason to get rid of a position. Sometimes things take longer than you expect.
Good morning, fellow Slopers.
The jobs report came out minutes ago, and it was another "less-bad" data point for the market. As I type this, the /ES is up another 1.5%. No matter how one wants to interpret the chart below, the fact is that it's been on a bull run for three solid months now, and the only bearish thing possible about it is if the breakout softens and fails. And that is simply a prospect, not anything endemic to the chart as it stands.
I'm watching EUR/USD too, and something quite peculiar is going on. I'm not sure what to make of it, but it responded positively to the jobs news, and suddenly it's lost the spike. Any insights on this? I notice GLD and SLV are trading down too, in spite of OIH being up very strong.