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.
KB Home Long
I'm putting a target of 16.87 on this one. It's already doing pretty well, and that's nearly another 20%.
Do Fibs Lie?
The very long-term Fibonacci fans that I follow on the S&P 500 index show we're getting awfully toppy here. Take a look at how the prices were supported back in 2006/2007 (green circles) by these fan lines. Once it broke the line, it tried to recover (the leftmost red circle), but then all hell broke loose (feel free to take a moment to wipe a tear away at those joyous days).
After a long fall, the market surged up to its recovery high in late April 2010 (red circle), fell some, and then rallied back yet again to a new recovery high. There's still a little room between current prices and the fan line, but I thought this was an important chart to point out, even if it's a week or two early.
Please. Accept the mystery.
Shorted GLD
I've donned my flak jacket for this, but I shorted GLD earlier today. Even with a boost from the rise in the Euro, GLD has been pretty much lower all day (not dramatically, but down nonetheless), and a stop above today's high of 139 seems sensible to me.
Optimism Abounds
The equity bulls are continuing to run with the baton this morning, as both the ES and NQ are up double-digit levels.
Taking note of the beginning of 2010, we had a similar situation. That is, the 31st of December was soft, and the beginning of the new year was very strong. This strength continued for a couple of weeks, started to lose its momentum, and then finally gave way. This is of course no assurance of a repeat – we're just dealing with one data point here – but I thought it would be worth mentioning.
