The resplendent Keirsten sent me the chart below last night, which shows a rather amazing mirror image of the NYSE Summation Index (comparing the bull run last year with the bear formation this year). Good stuff!
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.
Something’s Up with SRS
OK, let's face it – on a day when the Dow skyrockets way over 200 points and everything in the world is up, it's pretty danged impressive for an ultra-bearish fund to show green. I present to you everyone's favorite widow-maker, SRS, the ultra-short real estate ETF:
It's all too easy to beat one's chest about shorting when the market is getting creamed, but today – when the market was going ga-ga over Greece, I was shorting more. The above looks particularly enticing for my own account.
Greece is the Word
Well – here's our bounce! And it's a doozy. We've rocketed about 30 points on the /ES intraday from the lows. Is it because…….
+ Millions of sustainable, good-paying jobs were just created?
+ Earnings across a wide swath of industries are about to explode higher?
+ Worldwide peace and prosperity has been declared?
No. It's because a bankrupt country is being bailed out by some other bankrupt countries.
Carry on.
Harry Boxer’s Charts of the Day
GDX as a “Tell”
I was sweating it out a bit earlier today, but GDX's approach and retreat from its gap was a source of comfort. It's a pretty fascinating intraday chart. This market still feels exceptionally vulnerable to sell-offs.
