With so many pundits calling for a top, I am afraid that the top will be delayed. Market knows how to screw the maximum number of long and short.
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.
Giving Up the Ghost
VECO Looking Higher (by Mike Paulenoff)
In early February, VECO Instruments (VECO) broke above its two-month resistance plateau at 26.40/60, which triggered an intermediate-term upside target zone in the vicinity of 32.00. This "requires" the price structure to climb above its moderately declining exponential 200 DMA, and likely confront its more sharply declining nominal 200 DMA.
The powerful base-like pattern that has developed since the Oct 4 low exhibits the time-span and accumulation properties necessary to propel VECO considerably higher from current levels.
A Quintet of Short Ideas
Existing Home Sales and Home Prices Decline
Data released yesterday and today shows a decline in Existing Home Sales and in the Purchase Price of Homes with mortgages backed by Fannie Mae and Freddie Mac, as shown on the graphs below.
Perhaps home buyers are waiting for prices to bottom and become more in line with the low (2009) level of home sales.
