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.
Based on the graph below, I would simply say:
- A down day tomorrow – even a modest one – would be very good news for the bears in light of the last two back-to-back major up days;
- A cross beneath 1020 on the $SPX would completely seal the deal;
- The penetration – and retracement toward the underside – of the $SPX vis a vis its trendline (which dates back to the March low) is, to me, a thing of beauty.
For a 134 point up day on the Dow, that was actually pretty fun!
Another fruitless effort on my part to combat the notion this is a "Bear Only" blog – here's a stock I've mentioned before as a really beautiful long position – symbol BBEP. I own it.
Opened and closed today; not saying the $RUT isn't going lower, but wanted to bag a quickie. Check it out:
My intent – plainly expressed last week – to use this week as an opportunity to get serious about my short positions has begun. I have, until today, been quite light on the short side. I am in awe of how weak-willed people have become in the face of market strength, but we're all responsible for our own trading, aren't we?
The volume in SRS is hard to ignore. This ETF has been absolutely pummeled, having lost nearly 97% of its value from the peak. But a series of four higher lows recently makes it intriguing. I've purchased a modest block of it.
I thoughtful Sloper sent me this thought-provoking quote from Shakespeare:
"There is a tide in the affairs of men. which, taken at the flood, leads on to fortune; omitted, all the voyage of their life Is bound in shallows and in miseries. On such a full sea are we now afloat, and we must take the current when it serves, or lose our ventures."
~ Julius Caesar Act 4, scene 3, 218-224