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.
Well, today was a bore and a drag. It started off fantastic, with a very nice overnight profit on my /ES short and a big, fat profit at the opening bell. The profit eroded into a loss, turned into a big loss, and then almost turned into a gain again, and ended as a medium-sized loss. Boring. Drag. Yuck.
So I'm not going to do any more commentary today, as I've nothing new to say. Instead, I am showing a favorite cartoon from my childhood – – Royal's blog inspired me to do this – which sums up nicely how I'm feeling about the market. When examined in private, it sings, dances, and behaves as expected. In the public eye, it just sits there and croaks. The perfect analogy.
The intermediate-term S&P 500 remains bullish. It has come out of an impressive bottoming pattern, it is well above its ascending trendline, and any dips it has had over the past five months has been inconsequential.
However, the index its mashed up against the underside of several important technical levels, plus the short-term chart doesn't exactly scream "ready to explode to the upside"………..
Turning our attention away from the short side of the market for a moment, here are some stocks I bought earlier today: