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.
Winners In The Slopefest S & P Guessing Contest
I show a cash close on the S & P 500 to be 1110.88. We have some very uncannily close predictions. As you will recall, by contest rules, first and second prizes cannot be awarded to any guess that exceeds the cash close. Prizes for third and fourth place are without regard to the over rule. Booby prize to the furthest away from cash close is also without regard to the over rule. Without further ado:
First Place: the winner of 2 Morgan Silver Dollars goes to 1110.00
Second Place: the winner of 1 Morgan Silver Dollar goes to 1106.50
Third Place: winner of a fine selection of crisp German Weimar Notgeld notes goes to 1110.97 (Special note to FB on THAT call. Buddy, if you ever start a paid service, sign me up! Unreal!)
Fourth Place: winner of a bull sac (whatever that is!) goes to 1112.20.
Booby Prize: a fine example of Zimbabwe hyper-inflationary fiat goes to 913. (note to 1271..DP, close, but no cigar).
I will be getting in touch by email with the winners so that you can supply me with postal addresses for prize delivery. I am responsible for prizes 1 through 3. Biffermans will be sending out prizes 4 and 5. Please, do not contact through the email address by which you entered the contest. That address has been turned over to Tim Knight, our most gracious host, for purposes of Slopefest.
Again, thank you all for participating and hearty congratulations to the winners.
Pee Three? The W.C. Is Right Over There…….
Chart on EWG (Mike Paulenoff)
While everyone is fixed on Greece (for good reason), why don’t we look at the pattern developing in the German equity market, just to keep an eye on the country within the EU that is on the hook for the lion’s share of money to be loaned to the PIIGS. After all shouldn’t the health of the creditor nation’s equity index be telling?
Purely from a technical perspective, the 14-month chart pattern of the iShares Germany Index Fund ETF (NYSE: EWG) depicted by the enclosed graphic shows a 7-month uptrend juxtaposed against an 8 1/2-month top. In fact, we can make the case that the EWG’s rounded top formation is so formidable that my work is warning me to expect a potential parabolic downside round trip that first revisits the July low at 16.75 on the way back to the Mar ’09 low at 12.47. Yes, that is so difficult to believe, but that is what this picture reflects.
From an extreme near-term basis, however, I would not be surprised to see the EWG spend some time in a relief rally that grinds up towards 20.00 prior to resuming weakness towards new post-crash lows. If such a scenario unfolds, then it will be discounting forthcoming problems in Germany’s commitment to the rest of the EC – to put it mildly.
Originally published on MPTrader.com.
Yesterday’s Sign from Satan
