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.

Road to Nowhere

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This chart of the /ES tells you everything you need to know about this week:


That is:

Teal tint: churning around going absolutely nowhere meaningful;
Green tint: psych-out for the bulls to make them think a new breakout is here
Magenta tint: psych-out for the bears to make them think a breakdown is underway

So bulls and bears alike probably weren't really happy (or happy at all) with what this week did for them. It was just a big fat waste of time for me as well. I had a few good /ES trades here and there, but it didn't make much difference. And that false breakdown part was a real pisser, since I feel we're in a perpetual state of being teased these days.

I am going to be replacing one of my rules soon, and my Saturday post will probably be about that. I'm going to sign off for the day.


Double Retracement Achieved on NASDAQ

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The graph below shows that the NASDAQ Composite ($COMPQ) has retraced to two major Fibonacci retracement levels:

  1. The 23.6% level of the retracement going back to March 10, 2000 (shown in pink)
  2. The 50% level of the 10/31/2007 to 3/9/2009 timespan (shown in green)

For those of you using Fib retracements, the confluence of two major resistance levels should have more import than if it were just one.


An Economy of Language

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I went down to the business center to print a document out, and I noticed this sign above each computer:


They used twenty-four symbols to express something that could have been said with two ("Leave On") or, if they really wanted to be clear, four ("Do Not Turn Off"). 

But we have to use such treacle as "Guests", "kindness" and – a favorite of mine – "utilizing" instead of "use." Gawd, I need some George. You do too, whether you know it or not.

Won’t Get Fooled Again

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As my "what I learned" post late last night mentioned, I regretted not getting into a counter-portfolio trade yesterday (tinted in yellow). They're not going to do this to me again, though. I bought 20 /ES at 1023 earlier (tinted in blue). If the market plunges, so be it, because that's good for the rest of what I hold. But if it surges, at least I've got some serious action on this /ES to salve the wound.