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.

Weak Treasuries

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Well, not a good day for me in the least. I'm down 1.74% as I'm typing this, and the overall market is up 1.2% (by "overall market", I mean an average of the SPY, IWM, and QQQQ). I definitely got snookered by the brief selloff after the Bernanke speech. It turns out that was a fantastic place to buy the bounce.

One of the few bright spots for me is my TLT short, which I entered earlier today. Please take note of the gap and circled areas on this multi-year graph.

0827-TLT

GDP Relief

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The revised GDP numbers have rolled in, and bulls heaved a sigh of relief that they actually beat the consensus.

0827-gdp
The /ES surged on this news, up nearly 10 points, but there's a pretty thick wall of overhead supply between 1055 and 1062.

Bernanke's speech, scheduled for 10 a.m. EST, is the next big event. If he announces some giant new government giveaway, it might provide the bulls the power they need to get past the aforementioned resistance. If he just chats about how, my gosh, things are pretty tough, we might see a firm sell-off.