Well, my USO trade stunk up the place pretty fast, so I ditched it at 39.70. I'm still long DIG, however, which continues to look just terrific.
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.
Decision Point on USO
Oil's ETF USO is at an interesting juncture. It is mashed up against a broken trendline (bearish) but it is also threatening to break above 40 (bullish). I've shorted at 39.32 with a stop at 40.01.Take note of the declining volume during the recent rise.
CYWTP Second Edition
My editor at John Wiley contacted me yesterday about doing a 2nd Edition of my New York Times Best-Selling book Chart Your Way to Profits. It's been selling pretty well, and, let's face it, there's a lot of new ground to cover.
The obvious thing is to beef up the book with information about all the new features ProphetCharts has attained since the book's release a couple of years ago. But I'd be interested in knowing what suggestions folks here who have read the book might have for me?
One thing I can say for sure is that I'm going to ask for a prominent subtitle on the cover saying the book is primarily about ProphetCharts, because a few folks weren't expecting that (although 89% of all the reviews on Amazon are either 5 stars or 4 stars – – and, by the way, if you liked the book, please add your review too!)
Give the Bulls a Helping Hand
H and S Example
Not to seem FOREX-obsessed today, but I wanted to share an example of what must be one of the finest head and shoulders patterns of all time – the GBP/JPY (British Pound/Japanese Yen cross-rate). Observe:
This is an historical example, so it's not actionable in the least, but it's still a thing of beauty.