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.

Happy (belated) 4th of July (by Nathaniel Goodwin)

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Saturday night Stun Gun Jones drunkenly broke into my apartment thinking it was his box. It scared the crap out of me; but I was also enjoying some libations that night, and the liquid courage gave me the strength to grab my shurikens and wail them at the dark figure as he stumbled around my room. Luckily I missed him and they buried themselves in the wall. The sound of the shurikens hitting the wall awakened the colonel, and he busted into the my room with roman candles ablaze in both hands. Colorful balls of fire were exploding all around Stun Gun and myself, melting polyester pajamas to my flesh. It sobered both Stun Gun and myself up quick.

Those little balls of fire hurt, they sort of bury themselves into your flesh and just burn. Speaking of pain, today sort of sucked for both bears and bulls. I was positioned bullish going into today and got stopped out around midday after most of my gains disappeared. I’m still in the camp of seeing some sort of more significant bounce soon.

Here is a chart of Zweig Breadth Thrust, which triggers when we go from 40 to 61.5 in 10 days from oversold to very bullish. It doesn’t happen very often and many find it useless, but some use it as an overbought/oversold indicator to look for divergences.

Before Stun Gun  left, he told me the one year anniversary of the July 8th 2009 failed head and shoulders is coming up. "Always watch those anniversary dates!" he spoke as he gently fell down in the gutter and went back to sleep.

How I Spent My Morning

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Pretty simple………….two activities:

(1) Dumping my 25 longs

(2) Shorting like there's no tomorrow (and there isn't)

All my longs basically looked like this:


That is, badly battered stocks that were bouncing. I think stocks like this have a chance of more recovery over the next week or two, but the general trend is down, and I'm not about to let a ridiculous 150+ rise with no basis in reality stop me from shorting more. Indeed, it's a great opportunity.

At the moment, the S&P is up 0.87% while my portfolio is down 0.42% in spite of being over 100% invested. The reason? A combination of the fact I had longs earlier and entered shorts at favorable prices. Being as bearish as I am, having a loss that's less than half of the day's gain is a marvelous success. I'm delighted with the day so far.

Charts From The Comments (Monday)

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A few charts from the excellent chartists that contribute to SOH's comment section.

springheel_jack posted two looks at the EURUSD (here and here) along with this GBPUSD chart:

My personal favorite though, the GBPUSD rising channel. I've taken 425
pips out of this since last Thursday and I'm hoping to double that by
the end of this week:


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jesterx posted:

I was staring at the market today and trying to make sense of it, but
with this holiday here, sometimes the market can play up a bit. I will
not be trading today, but I found something with the RUSSELL 2000. Chart
below for those interested.


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morrise posted a round-up of the VIX including a Point & Figure, Weekly and this Daily:

We are a good deal oversold which often precipitates counter rallies. (link to spreadsheet) How about volatility with the VIX?


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morrise also posted a great break down of his thoughts on the SPX. Along with the daily chart below, he posted a 3-box reversal Point & Figure chart, a Weekly look and a look at the S&P500 Bullish Percent Chart. He also looked at a couple Moving Average studies on the NYSE Comp. (NYA).


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facesincabs posted:

fwiw … China was the first world market to resume its bear market
(noted by its 20% decline off highs several weeks ago) … in the last
two years it appears to bottom and top ahead of the domestic markets …


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facesincabs also breaks down the Russell ($RUT) with three charts including this weekly look:

Weakness abounds in small cap's after the last week …


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That's it for now. Thanks to all the people posting charts in the comment sections. I'll leave you with this potential long term Head & Shoulders pattern on the Monthly DOW chart. The right shoulder needs work so tell your friends to sell and sell often.