I hope you Slopers are doing OK on this, the 89th day of Captivity of Sanity. We pray that our bear market, held hostage since the first part of March, is being treated humanely by its captors.
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.
It Floats!
Everything is going up. Everything. Interesting little mania we've got going on here.
High-quality blue-chip organizations like Thrifty Rent-a-Car have gone up 1,350% in just three months.
When "stuff" like this is floating, well, I think you know what I'm going to say. The bottom line is that there was a reason it fell from $56 to 60 cents in the first place, and I realllllllllllllly doubt that reason doesn't exist anymore.
A Couple Lesser-Known Commodity ETFs
Commodities continue on their tear higher, and a couple of ETFs caught my eye as bullish-looking that I haven't mentioned before. They are DBB……
………and DYY…….
Also, I know that Disqus is still having latency problems. This has nothing to do with my move to a new platform. It's just an unfortunate circumstance.
Our Friends @ Goldman 666
On a day when the Dow is up nearly 200 points, I find this graph more than a little interesting. GS is actually down a little. Hmmmm……..
Time for the Big Breakout?
Well, to those who thought the end-of-day in sanity on Friday was an extremely temporary spike that would soon be washed out, this simply isn't the case. As I type this, half an hour before the regular opening bell, the /ES is up over 14 points. There is a serious threat of the big breakout finally happening which would look something like this:
This would fulfill the /ES target of ~1075 that I've been talking about forever (but have largely failed to profit from).
This is actually a pretty obvious direction, and I frankly don't see much standing in its way. The market doesn't seem to care about bad news, and whatever good news it receives is welcome as more signs of green shoots spouting up all around.
The less obvious result from today would be a failed breakout, which would be pretty damaging for the bulls, since the pattern as it stands now is marvelously clean. A failure's form is much harder to project, but it might look something like this:
What would happen after that is tough to say, although it would probably be a real mess for bulls and bears alike. The clean, easy-to-trade pattern would be the continuation of the breakout shown first.
Just a general heads-up to Slopers that this will be a week chock full of meetings and travel for me, so I'll be a lot less chatty (and a little less bloggy) than usual.
