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.
Further to my last weekly market update, here is a summary of where money flow ended for Week 3 of February, 2012.
The Weekly charts below of YM, ES, NQ & TF show that all four made a higher weekly high than the prior week, but the TF was the only one that didn't make a higher weekly close, so far, in February. The NQ has reached a confluence of Fibonacci and upper channel line resistance…one to watch for either a breakout higher or a retracement.
There's a very well-known publisher of market commentary which – like me – has been largely bearish over the past two and a half years. What is irksome to me is that, in the face of a market which has done little but push higher all this time, they keep pointing to a chart showing that in "real dollars" (in their view, gold) the market has indeed been crashing.
Ummm, that's stupid. Gold is an asset, but it isn't used as money in our society. Do you buy groceries with it? Pay your mortgage with it? Pay school tuition with it? I didn't think so.
I could make ANY prediction about ANY market and be correct if you allowed me to choose some kind of "currency" as a benchmark. Over any span of time, you can find something which has gone either up or down in value to support your claim, if that's what you're allowed to use as your divisor.
Look, let's face it – – until the 327th Salvation of Greece happens on Monday, there is nothing to say about the markets. It seems foolhardy to even bother. So, for the moment, I'm just going to shoot off model rockets. Maybe some salient guest content will come along this weekend.
I read a lot of stuff online, and it's become quite obvious to me that I'm missing the boat. After all, I don't make use of the "hooks" that other bloggers do when titling their posts. I offer a sampling from Altucher, whose work I enjoy from time to time:
The "number" thing is used to death, but I confess, it works. I'm not sure what it is about the human mind that latches on to such titles, but I suppose the prospect of having a discrete number of bite-sized morsels to read is more appealing than a broadly-titled mystery like my own Good and Evil.
But my pledge to you remains: I'm not going to use this device. If you read my stuff, it won't because I've seduced you with "3 Ways Bernanke Has Ruined My Life" or "10 Objects I Insert Into My Blankfein Voodoo Doll." I'm just going to have to let my writing stand on its own.