In honor of The Hun's postulate that emerging markets were the buy of a lifetime, I offer you my latest short idea – EEM – which I've shorted at 43.87. I've placed a stop at 44.25, just above the prior gap.
May The Hun be with you. Always.
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.
Russell at Last Line of Defense
I see that the EWI January 10th "wave 3 is starting" short has been stopped out as of today (S&P cash crossed 1360). Who knows, maybe that's a sign. In any event, the Russell 2000 is mashed right up against its descending trendline. Everyone seems to be in deer-stuck-in-headlights mode since this Greece this is going to be settled (oh, absolutely! no delays! this time for sure!) on Monday……..a market holiday.
Groundhog Day (by Springheel Jack)
I did mention yesterday morning that Wednesday's trendline break didn't preclude a new high and obviously I was glad I did, even if that seemed a bit wishy-washy. I've watched that film before, though I was surprised to see a new high made so fast yesterday. That leaves us pretty much where we were on Wednesday morning, with the trendline break in the meantime as a significant sign of weakness. Trendline resistance is now in the 1365 SPX area:
