Just as the bears' worst enemy is 1037 on the /ES, it seems that 1063 is the current enemy of the bulls. In spite of an extremely hearty post-Bernanke rally, the indexes seem to be having trouble getting above this level. There's still an hour left, but for now, this is a key level to watch for resistance.
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.
Short Soft Shoes
A LULU of a Short
I wish I spent more time in the comments section than I do, because some of the best ideas are in there. Yesterday, I happened to stumble over someone mentioning LULU, the purveyor of overpriced athletic wear for affluent women. It was a beautiful chart, so I shorted some. I'm glad I did – – it's one of my few bright spots today!
Weak Treasuries
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.
