OK, this has nothing to do with the market, but this is a pretty cool little clip of a foiled bank robbery. This old fellow, concerned for his wife's safety (who was at the bank with him), pounces on the robber (who is probably 40 years younger and, from what I can tell, has the too-good-to-be-true name of Sinister Smith) and holds him down. The wife gives him a good swift kick to boot. Sweet.
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, my cautionary post about Intel (INTC) was well-founded. As you well know by now, the stock is trading up nearly 5% after hours, and the @NQ instantly exploded higher, as did the @ES. It seems pretty evident tomorrow will be another up day, with Dow 10,000 absolutely within reach.
About one-third of my positions are long right now, and although I continue to view the advance with increasing skepticism, I have held off getting aggressive (as I've been saying ad nauseum). If these kinds of earning reactions continue, the oft-mentioned target of 1120 on the S&P seems probable, even though it seemed like science fiction back in March.
Here are three big indexes I follow, and the "risk zone" for more easy upside on the part of the bulls.
I think I'll probably wrap it up for the day at this point. Thanks for visiting, and I'll see everyone here in the morning.
I still am mostly in cash (my largest account has only 12% of its buying power deployed into positions, and that includes the longs). I really, really want to get past this earnings mine field before getting aggressive.
Just remember what happened to INTC last time they did earnings. The stock was up about 25% in a matter of just a couple of weeks! This is an hourly bar graph of INTC from July, zoomed in for detail and with the post-earnings gap tinted. (By the time some folks read this, INTC will have announced………..)
I am spending a lot of time researching a really amazing new technology, so I've gone relatively quiet (e.g. no blog posts for almost an hour!) In the meantime, a bit of music to throw your way. An English translation of the Latin is beneath.
When the damned are confounded
and consigned to keen flames,
call me with the blessed.
I pray, suppliant and kneeling,
a heart as contrite as ashes;
take Thou my ending into Thy care.
One unsung (or should that be unsUNG) hero is the natural gas ETF, symbol UNG. Although this year has been tough on chartists, UNG behaves relatively predictably and reliably. I've got a six-figure short position on UNG that I established at $11.91, and it's performing nicely.
Below is the adjusted continuous contract of natural gas itself, which has been in a sustained bear market (no "dot-gov" bounce for this one!). It's never going to $0, obviously, but it doesn't exactly look like it's setting up a base for a bullish run either.