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.
Slopefest Redux (by Biffermas)
Special thanks to Leisa and Doolie for offering their pictures and input.
Slopefest exceeded our expectations by a wide margin; it is remarkable what similar beasts we are! I cemented longterm friendships in Las Vegas this past weekend, and I felt honored to be part of the festivities. Many thanks to Tim for pulling this broad community together and organizing the event.
For those interested, I've cordoned off many other pictures taken by Leisa, Doolie, and myself along with unblemished versions of the slideshow. (Click here)
Par-Tay. Tim-may!
Euro Under Extreme Pressure (Mike Paulenoff)
If a picture is worth 1,000 words, then in the case of the enclosed 11-year weekly chart of the EUR/USD only one or two are required to put the situation into perspective: WOW! Or, alternatively, YIKES! In recent days, we have discussed the inability of the EUR to mount any sort of rally to regain Sunday evening's short-covering high at 1.3095, which at some point would bring in another round of "liquidators." Appropriately, the "long liquidators" emerged on a Friday, ahead of the European market close, and ahead of the start of the North American session. As of the open the EUR/USD was pressing into new low territory and heading for a test of the prior significant low at 1.2330 (1% beneath current levels) from Oct 2008.
Let's notice that a downside violation of 1.2330 completes a massive 4-year top pattern that could "unhinge" the EUR altogether and send it into a vertical tailspin towards 1.1640/50 on the way to parity with the USD — a move that certainly will get the attention of the ECB and the Fed, which vowed to defend the integrity of the EC last weekend.
Should the aforementioned downward spiral in the EUR emerge throughout today's session, we should prepare for intense and persistent Central Bank intervention, perhaps starting later today, Sunday night, and into Monday, as the "authorities" attempt to brake and preserve the Euro as some (lower) price. This could get very ugly, and is a battle the Central Banks can ill afford to lose, lest the efficacy of the world's institutions be completely undermined.
ETFs to watch are Currencyshares Euro Trust (NYSE: FXE) and the SPDR Gold Shares (NYSE: GLD), which has tended of late to move in sync with the dollar.
Originally published on MPTrader.com.
