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.
As I'm typing this, the Dow is up by a triple-digit amount, which is just dandy by me. I'd love for the fear to get swept out of this market. It'll make shorting cheaper and easier.
In the meantime, one strong performer today for me is LQD, my only really big position. It's down nearly 1% which, although not earth-shaking, is terrific on a day when virtually all equities are higher.
"Monday is Always Up" seems to be holding true again. I'm prepared for a convincing up-swing in the market, but I'm already mapping out what kinds of signs to seek for the downtrend to resume. Whether it's one day or two weeks off is unclear to me. It's price levels I'm watching.
One in particular is the EUR/USD. A retracement back to the horizontal line, whose price is cited below, would be highly motivating.
I realize a lot of folks see gold's current prices as an – umm – golden opportunity. I mean, the shiny metal was over $1200, and now it's "on sale" for nearly $200 less. A bargain, yes?
Well, maybe. Gold's future price depends on a lot of factors. But for now, I'm staying away. Here's the long-term GLD chart, clearly showing the broad upward trend:
But, looking closer, you can see GLD has broken an important trendline, and today's push higher has been nothing more than a reach for the underside.
I think the main reason I don't get to out that much is because on most weekends I moonlight as a paranormal investigator with one of my best friends Ricky Magnuson. Saturday night we had a job to see if some elderly woman's house was indeed haunted or if she just needed to adjust her meds.
93.7% of the time, our investigation shows no sign of a haunting. However; Saturday proved to be one of those times we came up with a bit of evidence. Our night vision cameras did not capture anything, but during an EVP session (electronic voice phenomena) we captured some interesting stuff. Ricky was the one provoking the spirits, when our sound recorders picked up a ghostly voice which sounded like this: "…short…wrecks….atboy…"
Ricky (who has a history of being taunted, teased and bullied by ghosts during our investigations), thought the voice was saying, "Short Rick's a fatboy." He's used to this kind of ridicule, and shrugs it off. Trust me, there is no use getting pissed off or trying to fight a ghost and Ricky knows this. They always have the upper hand since they can float above your punching range and walk through walls.
I studied the same EVP and thought the voice might be saying, "short…REXX…fatboy." Could this entity be giving Ricky stock tips from the other side? I pulled up a chart of REXX and this is what I saw.
This looks like a good risk/reward short with an easy place for stops. I'm really not sure; I've been a certified ghost hunter for 9 1/2 months now. Some ghosts have good intentions and others do not, but I will be keeping this chart on my radar nonetheless. I might actually want to go long REXX after a nice correction.
