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.
Gold Miners GDX Bullish Diamond Breakout
This is What I *HAD* Expected…….
The biggest "macro" disappointment I've had in the markets and my trading over the past six months is simple to explain, and I came across a chart this morning which does a nice job capturing it.
My expectation was that the markets, having rallied mightily from March to October, would crest at a major resistance level and simply roll over and resume their fall. So far, any falls have been nothing more than a tease.
There was a fall in late October; that got trounced by higher highs; there was a healthier fall in late January and early February; that was obliterated by dramatically higher highs. Yesterday's 200+ point dip might have been the beginning of simply another fake-out.
My expectations for the market were much closer to what NBG – a Greek bank, shown below – experienced. I guess the required fundamentals for my expectations had to be a lot worse than what we're seeing in the U.S.
HTCH Luck
Yesterday I shorted HTCH, and today it's down by about 25%. I shorted HTCH based on what was shaping up to be a nice head and shoulders pattern. Sometimes it doesn't pay to anticipate the completion of a pattern, but sometimes – – rarely – – it works out beautifully.
The irony is that the stock seems to have stopped its plunge exactly at its neckline, meaning the pattern is still not complete, so I've gone ahead and taken my profits, counting myself fortunate.
Too Late To Get In? (by Brian Johnson)
DISQUS REMARK: It seems that the auto-updating feature has been disabled, therefore you'll need to refresh (F5 key) your screen in order to see new comments. Thanks – The Management.
It's Brian Johnson again and here's a video on the current state of the markets. The bears had a decent day today but everyone will be watching to see if there's any more confirmation tomorrow. It seems these bear runs manage to get about 2 or 3 days out of the traders before the bulls rush in and buy it back up. We made it to some pretty major levels of support on the Indices and therein lies your chance to get in on a piece of the action if these levels are broken over the next couple of days.
