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.
An Evening Observation
Greetings from the pleasantly chilly corner of the Los Altos, California Starbucks on Main Street.
I was watching the GOOG earnings after the close, and I was mightily impressed with the price action. That sucker shot up over $50! My hat is off to whoever loaded up on October calls! Zowie!
But here's the interesting thing: GOOG is one of the biggest, most respected corporations in the U.S., and it just produced earnings that sent its market cap soaring. The /ES, naturally, rose as well. Up 2 1/2. Then up 1 3/4. Then up 1. Then up 1/2. Then flat. Then down 1. And, as I'm typing this, down 2.
This is not an impressive showing. Now, I don't want to read too much into this, because we've got Shalom Chairman Bernanke giving a speech tomorrow morning outlining bold new ideas on how to destroy the United States dollar. All the same, when oh-my-God earnings can't move the general market higher, that's an interesting sign.
Speaking of signs ,I took a snapshot of this one during my travels last month to Slopefest East. I hereby nominate this as one of the worst retail names I've ever encountered.
Google has announced their earnings, and they are flying higher after hours (I have no position; I can't even remember that last time I ever traded GOOG). As I'm typing this, the stock is up nearly $40. If one considers the measured targeted for the IHS pattern to be about $590, GOOG is just about there.
Short Retailer DDS
Charts of the Day (Harry Boxer)
Originally published on TheTechTrader.com.