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.

Bigger, Longer, and Uncut

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Finding my inner bull probably came as a shock and puzzlement to my long-time readers, but it's true – – on Friday, I started aggressively covering shorts and entered a single very large long position in FXE.

This morning, I've been augmenting that long with new large positions in SPY, QQQ, and TBT.

I have remained in 30 short positions, merely because the charts are so outstanding that it would be 0521-holmes illogical to dump the positions, even in the face of what I feel is an imminent and substantial bounce. All the same, I am weighted to the long side – – – a freakish circumstance for me – – – and will merely be marking time until the Greatest Short Opportunity of the past several years introduces itself to us a little deeper into 2012.

P.S. Incidentally, I flew out to Las Vegas for SlopeFest IV and had a great time meeting people and putting names to faces (or at least screen names to faces). Hearty thanks to all of those who made the trip. I apologize for my short stay (literally 100 minutes at the venue), but the last flight out of Vegas is at 8:40. My absurdly short stay in Sin City will now permanently cement my reputation as a pitiable homebody.

Rain Delay EURO Tarp…………….(Evil Plan 63.0 by BDI)

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Well my fellow Slope-a-Dopes, I finally scored this week, driving in six runs.  It was certainly about time!  As you all undoubtedly know, America's national pastime has not been very kind to A-Bob this 2012 baseball season. Big league pitchers have regularly been blowing curve balls right by the notorious Gallic long ball hitter, repeatedly leaving his extended bat blowing in the wind.  Even though it does feel good to get out of my endless hitless funk, I am a bit annoyed at myself for taking my shorts off too early on my way to the showers Thursday afternoon, not to mention making an egregious error by switch hitting for my last at bat, in breathless anticipation of the cuming bouncing Faceboy.  Clearly should not have listen to my pimp bookie on that one.

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Canada’s Business News Network

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A reader asked if I would do a post recommending Canadian on-line links to the world's financial markets.

Here's my take (as a Canadian)…

During my trading day I have my TV tuned to BNN (Business News Network). It's Canada's only television service devoted exclusively to business, finance, and the markets. Their commentators are very professional, extremely knowledgeable in all world and financial affairs, and deliver unbiased information.

For those whose TV providers do not transmit this program, you may receive information from their above web link. There, you will find links to their bloggers, as well as to their latest services ~ mobile real-time TV (for smartphones and tablets), live video stream (an inexpensive subscription to live, high-speed video stream), and Twitter.

You will be continually updated throughout the day (with repeat segments in the evening in case you missed them earlier in the day), not just on Canadian content/issues, but also on world issues (there is a heavy emphasis on their reporting of world issues as they unfold…and without delay, I would add).

Their network and commentators are second to none…trust me! I also find their guests very interesting and knowledgeable (they range from traders, to fund managers, analysts/researchers, current/former politicians, current/former banking officials, current/former world leaders, large/small business CEOs, etc.).

BNN has my full endorsement. You will find the link to their website along the right side of my Blog under Sites I Visit. By the way, I'm not affiliated with BNN in any way.

I hope this was useful in your pursuit of knowledge.

Money Flow for May Week Three

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Further to my last weekly market update, here is a summary of where money flow ended for Week 3 of May 2012.

The Weekly charts below of YM, ES, NQ & TF show that they all closed much lower than the prior week on higher volumes. They have now broken out of their ranges from January. The YM, ES & NQ are sitting above their weekly 50 sma, while the TF has closed below…whether they find short-term support at these levels remains to be seen.


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