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.

EMC

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The longer-term pattern in EMC Corp. (NYSE: EMC) has huge upside potential for a thrust above multi-year resistance at 18.50, which should trigger conservative near-term targets of 20.60 and 21.50. Today’s upmove from 17.87 to 18.45 has the right look of the initiation phase of the thrust above resistance. However, my hourly work is very overbought, which suggests to me that for EMC to continue higher directly from here, it must be the subject of some sort of bullish catalyst. Otherwise, the overbought near-term condition should coincide with the advent of a pullback into the 18.20/00 area prior to the next loop to the upside.

2ledTp0za 

Originally published on MPTrader.com.

Three is a Magic Number

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Today my account went in the right direction for the first time in a long time. I hope I can produce many more such days this month. Sheesh, what a slog. It's been like a trial by fire.

Just to make my day even brighter, my three hens are all now laying eggs. After the close, I went out to let them out so they could run around the yard, and I discovered three eggs, all differently colored. Hurrah!

0308-eggs

UNG? Seriously?

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OK, poor old UNG, the natural gas ETF, seems to be good at doing one thing – going down in price. It has done so quite steadily for the entire year.

I have, however, as of today, entered a not-that-large long position in it. UNG has a mind of its own; it doesn't really seem to much care what stocks or energy is doing (strangely enough). It is its own beast.

My stop is at 8.10, so I think the risk is pretty small. And, yes, yes, I know about all the contango disadvantages and all that hoo-ha. This simply seems like a mildly interesting long idea for the next few weeks.

0308-ung