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.

Castaway (by Springheel Jack)

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I'm having my cast removed at hospital on Monday morning and am graduating to a removable cast for my leg, which is healing much faster so far than I was expecting from my doctor's firm warning three weeks ago not to put any weight on it until tomorrow at the earliest. In practical terms I'm pretty certain I could walk on it now, though the ankle will need some careful physio I'm sure and I understand that the bone doesn't finish healing completely for about a year, so I will need to be cautious for a while yet. 

I've ordered a blackthorn walking stick as I'm expecting to discard my crutches soon. These have an interesting history as they were adapted from the traditional Irish shillelagh after those were banned by the British occupiers a few centuries ago, and make an excellent weapon for home defence in countries where householders are allowed to defend themselves, which after some recent changes in the law here, now includes the UK.

Anyway, unless my hospital visit tomorrow is very fast, I'm not expecting to be back much before the open, so I have a couple of quick observations to make about equities here. I'm expecting some more retracement, though it's worth noting that SPX completed a 23.6% retracement from the June lows at the low on Friday and that it's possible this retracement is already complete. I'm expecting more downside though, and am expecting a low in the 1300 – 1326 range. There is a possible H&S forming with a target at 1304 and there's strong support at 1318 and 1300:

I think this retracement may last into Tuesday or Wednesday and I'm expecting new highs afterwards, so this is a dip worth buying in my view.

Stop the Insanity

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I've been going through all 1,000+ of my charts, and I'm labeling a number of them "Momentum", which means they are the always-going-up, mo-mo, P/E doesn't matter anymore stocks. Here's a favorite:


I assume the watches, sunglasses, and other knick-knacks these guys sell must simultaneously cure cancer, transport you to any destination you think about, and wash your car. Why a stock like this is up 1,000% (literally) in the past couple of years is a mystery to me. And don't even get me started on Green Mountain Roasting.