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.

Big Things Happening (by Nathaniel Goodwin)

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Besides today's big turn down, then reversal up, some pretty amazing things have happened to me after my last post here on Slope: http://slopeofhope.com/2010/02/market-update-by-nathaniel-goodwin.html

I was contacted via email by a big time media outlet, and offered a job to help write dumb headlines as to why the market is moving in one direction or another. Sort of like the headlines that I was reading Thursday morning about the heavy snow over the past month causing huge job losses (LOL!)

I can't discuss what media outlet contacted me, but here is a hint. I'm also not allowed to give out many details of the deal either, but lets just say it's a little north of $16,800 per year and includes a lot of beer to kick-start the imagination.

Mom and grandma will both miss me, but it's time for me to become a man and head to New York City. I can't wait! I'm going to be extremely busy looking for an apartment and roommates, so I will not be able to post here very much in the next few weeks until things settle down a bit.

Here is an updated fib-fan chart from my last post. This one is a log chart, the previous one is Arithmetic. Note the big bad bear line in both. I won't go into which one people should use; but I know that a lot of people only use Log charts and a lot of people only use Arithmetic, so I like to use both and look for the one that is working.

Today's price action was really frustrating for me. I got stopped out of a large short position, breaking even after really big gains in the morning. This market is so quick; I stepped away for an hour to help grandma exfoliate, and my profits were gone. I see a really good risk/reward setup forming to add more shorts though.

Teletype 

Good luck everyone, it's time for me to spread my wings! …and news

Mike Paulenoff’s Mid-Day Minute: Gold

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Gold — the SPDR Gold Shares (NYSE: GLD) and the Market Vectors Gold Miners ETF (NYSE: GDX) — have turned positive this morning, in the aftermath of intense selling pressure earlier in the session. This is a sign of meaningful relative strength in the sector, but the day is young yet. Looking at the GDX chart, today's spike low at 41.35 followed by a powerful upmove to 42.50 — where it continues to sustain since the opening few minutes — has the look and the feel of the completion of the correction from the 2/18 high at 45.56. With that in mind, I am looking for confirmation of today's low upon an upside penetration of 43.05.

Originally published on MPTrader.com