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.

Climb in UltraShort Crude ETF (Mike Paulenoff)

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From a near-term perspective, the August advance in the UltraShort DJ-UBS Crude Oil ProShares (NYSE: SCO) has climbed sharply to and actually pierced above its May-August down trendline today at 14.85/90. Perhaps more impressive is that the price structure is consolidating (so far) above the trendline, which is a potentially bullish sign of still more upside directly ahead, that projects to 15.25, and then 16.25/50 thereafter.

Should such strength emerge without much if any pullback, then the intermediate-term picture will morph increasingly into a multi-month accumulation (base) pattern that is propelling prices towards a confrontation with significant resistance at 17.50-18.00. At this juncture, let's not be surprised if a bit of profit-taking occurs that corrects the near-vertical August upmove into the 14.60/20 area prior to the resumption of strength that propels the SCO considerably higher.

Originally published on

The Lame-O

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This has been a very good week for me, but one instrument I've struck out on repeatedly is FXE, which matches the Euro/US Dollar movement.

I entered a very large long position on FXE yesterday, and as the Euro climbed last night, I thought this was going to be a winner today. Unfortunately, it's been a dog – – and it has repeatedly been so quite a few times this week. The only person happy with my trades on FXE this week has been my broker.

Here's what EUR/USD has looked like recently:


And here's a longer-term view, with the portion shown above highlighted with the red rounded rectangle:


So I've dumped FXE……..yet again……at a loss. I currently have 8 small long positions (BYD, CPX, CSR, CUB, LCC, PGN, WL, and XEL) and 182 shorts, although I'm snipping those here and there. I am trying to lighten up to some degree, since I confess Mondays have me a bit freaked because of their past behavior.