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.

Market Wisdom by Selden (Leisa)

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I wanted to share one of Selden's quotes (there are so many of them that resonate). From Psychology of the Stock Market:

To a great extent we train our judgment to lend itself to our selfish interests. . . We cannot work for our own interests as in other lines of business–we can only fit our interests to the facts. . . To make the greatest success it is necessary for the trader to forget entirely his own position in he market, his profits or losses, the relation of present prices to the point where he bought or sold, and to fix his thoughts upon the position of the market. (p.57)

The EUR Falls to Pieces

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The last time the market began a serious downward turn was January 19th (the downward turn was terminated, as I've cited ad nausem, on February 5th). Prior to that turn, the EUR/USD was shaping up for a meaningful bounce higher. Instead, what looked like a nice saucer formation was punctured to the downside. I've highlighted January 19th below.

0324-eurthen 

Given the state of this market, I try not to offer the bearish side of me much in the way of optimism, but I will point out that we're witnessing a similar move right now, thanks to Portugal's downgrade.

0324-eurnow 

 

I'm making a particular point of this for one key reason – – – I've been frustrated at how disconnected the US dollar's strength has been from equities (e.g. it only seems to work to favor the bulls, and never the bears). But the fact is that, during the last significant EUR tumble, equities quickly "caught up." It'll be interesting to see what happens this time, since we could be experiencing another January 19th now, two months later.