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.
Well, today is interesting. I entered it with 73 shorts, and every single one is profitable. I am trading huge positions in GLD with good success.
Typepad, my blog platform, was down for about an hour, which is pretty bad on a day like this. Far worse, RealTick – – for which my broker pays something like $800 per MONTH for each customer – – has been down all day long. So I have to place trades through freakin' instant messager.
Anyway, let's enjoy a little music. Here's one of the great songs of the early 80s:
I was out for the first half of the session and was very pleased to see (buffs fingernails modestly) that DX and ZB both bounced at the support levels I had said must hold for the bear scenario. Overnight ES has fallen hard into a potential short term double bottom in the 1192 area and is now close to the 1185 level that I've been talking about as main support on ES. Here's how that looks on the ES 60min chart and I would draw your attention to the short term falling wedges confining the current downtrend. Those are suggesting that we may see a strong bounce in the 1185 area later on, and I have noted the wedge resistance levels on the chart: