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.
First let's review our post from last week (10/27) and see how projected support/resistance levels played out.
Now lets see how the history repeated itself once again. We are comparing Aug.2008 price action and present:
No doubt there is a similarity. Current swing high(FOMC day high as well) is 1.4908-to the tick the same as the swing high in August 2008.
Will the history keep repeating itself and we see lower prices in the coming days? We shall see.
Here's a chart of SRS, the ultrashort real estate instrument. I have – as I am wont to do with big movers – flipped it upside-down to give you a different perspective.
Does this look vulnerable to a "fall" to you? (I put fall in quotes, since the chart is flipped). I think it does. Let's keep in mind, though, that it has shown vulnerability before (see blue tinted area), only to move more.
I bought SRS earlier today, and the fact that it is showing a profit (albeit a small one) in the face of a nearly 200 point burst higher on the Dow is pretty encouraging.
Believe it or not, I don't just sell stocks short. I occasionally like to buy them too. Here are some charts I like and the stop-loss levels I'll be using. To be clear, I'm still quite bearish on the market between now and mid-December, and I'm positioned that way, but I'm not comfortable being 100% short; I'd like a few attractive-looking longs in the mix as well.
Howdy Slopers and Slopettes,
I've been getting a lot of feedback about the blog lately, and there are a couple of big changes I'll be implementing before the year is out.
Faster Site: I assumed being on a platform as big as Typepad would be sufficient, but I've heard from more than a few people that the site isn't fast enough. So I'll be moving to my own hosted server.
Better Organization: I'm going to get the site nicely designed, including having a clear organization of posters and their content. Some people are crazy about the guest commentary, and some don't care for it. I personally think it's great to have more voices on the site, but perhaps better organization would help make everyone happy.
Just letting you know that I am listening to feedback and will be making improvements. If any of you are ungodly-amazing web site designers (or know any who are), drop me a line. I'm in the Silicon Valley, so there's plenty of talent, but it would be especially nice to have someone actually from Slope involved.
A fellow Sloper writes in:
I will be attending a small gathering next Monday where Vikram Pandit will be sharing "an informal dialogue about the current financial landscape and responsible finance." (their words, not mine!) I have been asked if I would like to pose a question to Mr. Pandit and, of course, my answer is "yes." Most of my questions have to do with the real world vs. what the banks/Fed are telling us. I obviously have quite a few, but I wanted to see if you or any of the Slope readers had some thoughts on what to ask. I would of course share his response with everyone.
OK, folks? What would you like to ask Vik?
