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.

The Trend is Down (by Springheel Jack)

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Whichever way you cut it the chart setup for equities here looks bearish. SPX still hasn't broken below 1340 support but the repeated failures at the broken H&S neckline last week look very ominous. There are in fact two bear patterns in play here. The first is the sloping H&S indicating to the 1290 area that I've been posting every day. the second is a double-top on the April and May highs, that indicates to 1292. Given that 1292 was also the October high and an important support level, on a conviction break below 1340 the obvious target has to be a test of 1292 SPX:

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The Calm before the Storm……………(Evil Plan 61.0 by BDI)

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Uberboston1936

Good evening my fellow Slope-a-Dopes, trust you had an enjoyable, relaxing, peaceful Spring weekend.  As for me, I have spent the last two days quietly fretting in a somber melancholic state of mind, have had great difficulty falling asleep, and simply can't seem to shake this eerie desperate disposition of mine. The way I actually feel is not easily described in words. The above 1936 photograph by Leslie Jones, best captures my current frame of mind. The ghostly still image of the Hindenburg, taken before this massive marvel met its ultimate horrific fiery fate, perfectly depicts my current mood.  Only a few months later, this ginormous German blimp would burst into a harrowing hydrogen fire ball, leaving nothing but pieces of the swatchka painted tail intact on the ground.  Foreshadowing what was to come, as the entire world was about to be engulfed in the soon to be ignited Nazi flames of war. With the exception of my very creative friend Timothy Leary, no one could have possibly envisioned the uber destruction that lay directly ahead…………

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Doing Your Homework (by mmTesla)

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So the first post in this series was a primer. I don’t know how to imbed links but I am sure you can find it using the find feature on the site. That said this next post is devoted to doing your homework and weeding out levels so you focus only on “value” areas.

Basically a value area is a predetermined place to do business. If the market is not in your area of business there is no trade. Period, no exceptions. If we are testing it from above that value area is then support and buying triggers should be taken. If testing from below short triggers should be taken.

So first off I have a chart to share on important levels based off of the 60 minute. Focus on how its drawn, looking at the WICKS (see first post under candlesticks).

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FINAL Update for Slopefest IV! (Market Sniper)

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The fun is about to commence forthwith!  Here is a link to the main post which includes a map of scheduled festivities.  http://slopeofhope.com/2012/04/slopefest-iv-is-almost-here-market-sniper-and-vittorio.html

A few changes and updated information! Great news! Our Las Vegas connection, Mr. K, aka, Ferrari, has scored for us again! It seems that our Slopefest night is also member's night, an annual shindig. We are still getting in! Free food and drinks from 6 pm to 8 pm! And here is the food menu!

Buffet and tray passed Hors d’oeuvres

Crudites with Blue Cheese Dressing

Hummus with Crispy Pita

Tapenade with Grilled Bread

Pear Goat Cheese on Belgian Endive

Warm Jalapeno Corn Bread & Spanakopita

Chicken Sate with Spicy Peanut Sauce

Bananas Foster Empanada & Mini Assorted Chocolates

After 8 pm, tabs will be run. They do have a "theme" for dress but it is not mandatory. Dress is 1940's garb (which I guess means zoot suits!). We will still have our own room but it most like will be the Ganesh Room rather than the Media Room. Be certain to identify yourself with the Slope Of Hope to the elevator concierge. 

Vittorio and I are leaving for Vegas Sunday, May 13 and will be there through Sunday, May 20. We are staying at the Excalibur Hotel and Casino and can be reached by asking for Holland or Abbene. Those who are coming in prior to Friday can get a hold of us as there are other festivities also planned. We are looking forward to meeting with all of those who can attend and yes, Mr. Tim Knight will be making a cameo apperance Saturday night!

SPY Guessing Game Results: The  close of SPY ETF on Friday, May 11 was 135.61. Two entrants had the exact same number, 135.45! According to the rules, first entry in got the first prize. I have been in contact with both and prizes will be going out to them right after Slopefest. Third prize winner with a guess of 135.42 was a Dr. Peter (last name omitted). Doc, for some reason, I do not have your email address. Please contact me at Dutch302 at gmail and be certain to include your last name for verification.

Final note: for those of you that enjoy casino gambling, bring a roll and we will go after a casino. Who knows, maybe we can make a big dent in their quarterly earnings results. IF we do, then we will short the living hell of their stock and score again! Legal insider trading!  LOL!!! Look forward to seeing as many of you there as can make it. Surprise prize for the Sloper in attendance who came closest on the SPY guessing contest as well!

Yours in the never ending search for edges wherever they maybe found!-The Market Sniper

Money Flow for May Week Two

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Further to my last weekly market update, here is a summary of where money flow ended for Week 2 of May 2012.

The Weekly charts below of YM, ES, NQ & TF show that they closed lower than last week's bearish engulfing candle, except the TF, which closed marginally higher. They are still range-bound from January. Until we see price break out of this range one way or the other with conviction on increasing volumes, we may see an attempt at a bounce on Monday.

As I mentioned in my market update of April 13th, I'm assigning a weekly bullish or bearish rating on YM, ES, NQ & TF until the end of this year. Please refer to that post for the parameters, and to the Weekly charts below. As of this past week's close, the ratings for next week are as follows:

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