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.

Emotion and Devotion

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Lately, the emotional atmosphere on the blog has been running a little on the hot side, and I wanted to address this. I've received a few emails complaining about "childish" behavior from some participants, and I've noticed a higher-than-average level of needling and snark.

I know as well as anyone that this blog has a lot of bear blood running through it, even though some superbly skilled bulls frequent it as well. And, as a "bearish blog" in an environment where the market is relentlessly moving higher, it's natural that there's a lot of disappointment and frustration going around.

I would hope that bears would not take this frustration and disappointment out on others, although in a couple of cases I've seen that, and for bulls, I would hpoe that gloating would be kept to a minimum (which,again, only has a couple of problematic cases).

Preserving a culture of inane chatter and puerile rantings is a cinch; browse the Yahoo message boards for evidence of that. Promoting and protecting a culture of respect, shared knowledge, and comraderie is hard. Slopers are able to do this most of the time because of who they are (well, 99% of them, anyway) and thanks to the commitment of folks like Iggy and Market Sniper. It's also due to the contribution of writers besides myself, such as Springheel Jack, Runedge, Leaf West, and many others.

I want people to feel good when they are on the blog, no matter what kind of day they are having. I don't like seeing fighting; I don't like seeing nastiness; I don't like seeing name-calling; and I don't like seeing ugly wishes laid bare. I'm all too human, and I've definitely had my "moments", but I think that, over the years, I've become about as good a citizen on the blog as I would hope others would be.

The vast majority of Slopers are fine, and this message isn't intended as a blog-wide scolding. It is simply meant as an expression of values and an affirmation that keeping this place welcoming and positive for all manner of traders is something that matters to me.

Thank you, and good luck to you all on Wednesday.

NUE …. Proven that It Wants to Go Higher

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St Louis 01 I was doing work on NUE back in the middle of Jan when it was trying to break the $45 level … I think with the numerous signs that the economy is picking up, the break over the past few days is just the start to several weeks of out performance.

Going to try and swing this trade in both my trading accounts and macro accounts.

NUE_Feb 1, 2011_Daily

NUE_Feb 1, 2011_Relative

NUE_Feb 1, 2011_Weekly

NUE_Feb 1, 2011_Weekly PnF

Cheers …. Leaf_West

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FCX/Copper … What is the Right Message?

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I know I beat the FCX and Copper horse pretty senseless but they are great market indicators and FCX is a great trading stock.  I blogged about the strength of copper over the recent past and today the ETN broke to a new high.

FCX_Feb 1, 2011_JJC_Daily

Is this the final wave 5 move?  Watch internals for clues as the ETN's (or futures chart)  price pushes higher into the expected wave 5 targets.  I have those at $61.60 for the 61.8% and $65.10 for the 100% target.

What is FCX doing as copper is making its push?

FCX_Feb 1, 2011_Daily

FCX is still well below what we thought at the time was the wave 5 high/top.  As noted, FCX is now above the daily 20/50 EMA's ($112.33 / $110.48).  It appears that FCX should fill the Jan 20th gap and get to $114.70.  the 61.8% retracement from swing high to low is at $115.80 … price could make its way up to that point and still be "officially" still in a retracement off of the low.

Keep your eyes on FCX/Copper to have a sense as to the strength of the equity markets.

Cheers … Leaf_West

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