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.
The chart below of the S&P 500 says it all….the market can't even find enough temporary weakness to complete a channel. It is clinging to its upper would-be channel line like iron fillings to a magnet. The last dip "allowed" was the one made right when Bernanke gave his Jackson Hole speech. Since then, nothing. Incredible.
I'm currently very, very light in the market – 35% committed – – with a split of about 25% bullish and 75% bearish. I have a number of attractive bullish candidates lined up for Monday morning, since I think I'd like to push this to more of a 50/50 split.
I am avoiding indexes, though. As "bullish" as things seem, I cannot comfortably go long the likes of SPY or IWM with the charts loooking like they do. Individual equities, yes. Broad indexes, no way.
I thought it would be interesting to once a week review a sector ETF or a common stock that is not the SPY ETF. Other than trying to keep these reviews from being “the same”, I think this is a pretty good idea. Firstly, many readers may not have looked at the stock or sector ETF in a while, so it could actually create some trading ideas. And secondly, I think by using a non-SPY example, I can illustrate the fact that the set-ups and concepts that aid you in trading the SPY are the same ones that will help you trade any stock/ETF you wish.