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.
I Believe I’m Acquainted With This Pattern
Fossil’s Colossal Plunge
Well, another outstanding Slope of Hope idea from a few weeks ago has finally blossomed. I pointed out the double-top in FOSL when it was $135. Now, not even two months later, it has lost nearly half its value, most of that just today.
Thank you. Thank you very much. I'll be here all week.
Shock and Awe
This is just a comment cleaner, as I'm terribly busy and wanted to give you a brief update.
Being hedged in this market was a mistake. I dumped all my longs this morning. They were serving no other purpose than to create losses. My biggest macro regret is that I didn't simply put my entire portfolio into GDX puts at the start of the year and went to sit on a beach for the rest of 2012 (OK, I don't really like beaches that much; perhaps sitting in a library with books would be my preferred occuptation).
All the same, I am once again totally short and am currently 81.16% committed (and that will probably push higher). FXE is far and away my largest short – indeed, it's my only big one, and it's a doozy.
As I was ripping through charts this morning with lightning speed, I kept uttering, again and again, "Holy…" followed by one of a variety of expletives. I couldn't believe how many stocks were getting completely monkey-hammered, including some favorites of mine. I'll do a post later today on one in particular. My mouth was simply agape at how many equities were getting destroyed.
I think we're finally on the cusp of something much bigger. And while the public is distracted by article after article after article after article about {expletive deleted} Facebook and its {expletive deleted} IPO and Mark Zuckerberg wearing his hoodie, which makes him look like a complete {anatomatically-specific noun, preceded by another expletive}, stocks seem to be undergoing full-on rot.
Hand and Shoulder Patterns (by Springheel Jack)
Well I missed a boring trading day yesterday it seems, but from a technical perspective it was interesting. On my SPX 15min chart I'm seeing strong positive RSI divergence at the low and a poor quality IHS mostly formed. I also have a declining channel with channel resistance in the 1380 SPX area today:
