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.
Favorite Put Positions (2 of 3)
Favorite Put Positions (1 of 3)
Commodities Ready to Roll Over
The day started out really rough (again!) but I hung on tight, and losses have trimmed substantially. I doubled my short position in OIH earlier today, and that position is now in the green. My view is that commodities – the ETF symbol GSG below is a good proxy – are going to be headed lower soon.
You can see (1) the failed bullish breakout (2) the subsequent drop beneath the supporting trendline (3) the climb back to the neckline, which also happens to be the former breakout zone. It all adds up to commodities headed down starting, oh, about now.
DIA Trend
I think this trendline on DIA tells the story as well as anything else: the market has been run up to the point of exhaustion. I think it's going to run out of gas sometime this week. This strength is unsustainable.
