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.

Five Charts to Watch (by TraderHR)

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Five stocks with strong continuation patterns are Patrick Industries (PATK), Builders FirstSource (BLDR), Louisiana-Pacific Corp. (LPX), Altisource Portfolio Solutions S.A. (ASPS), and XPO Logistics (XPO).

PATK has been in a beautiful rising channel since November of last year that has taken the stock up seven-fold from 2 to over 14. Its surge on Monday of 1.24 to 14.14 took it to the top of its triangular ascending channel, positioning it to break above the resistance line from March.

BLDR similarly has risen since November of last year, in its case three-fold from the 1 1/2 area to Monday's close of 4.35. The stock has been in a sideways channel for the past three months, and its rally of nearly 10% in the last three sessions positions it against its resistance line, poised for a possible breakout.

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Gold Not Being Kooky

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I read an interesting piece last night over on ZH about how Goldman Sachs is expecting The Bearded One to announce a $600 billion program tomorrow to keep gutting the country's future for his banking friends.

As the quote shows below, ZH expects gold to go stratospheric. Judging from the action today (all assets are up, with the notable exception being precious metals), I'm not so sure.

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Last night I also noticed a big bump in my Twitter followers. Curious, I checked my timeline, and I discovered Slope was featured in a list of Top Finance People to Follow on Twitter, an inclusion I appreciate. If you aren't following me yet, help get us over that 7,000 mark and Subscribe today!

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Obsession With Central Bank Action is Unhealthy, But Typical

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The great question revolving around Greece is now answered.  It remained unanswered when the opening segment of NFTRH192 was written.  Here is how one writer was trying to deal with these and other questions over the weekend:

Obsession With Central Bank Action is Unhealthy, But Typical

“We’re seeing some positive sentiment return on account of a few things: the prospect of coordinated intervention in the event of a sloppy Greek election, or outright victory of an anti austerity party,” such as Syriza, said Andrew Wilkinson, chief economic strategist at Miller Tabak & Co. –MarketWatch

NFTRH has been managing what I believe could be a pivot to a coming intermediate bullish phase in the broad markets. For several weeks now my response to the Ticker Sense sentiment poll has been ‘Bullish’ http://is.gd/IX10GL. This has been largely due to markets’ [previous] proximity to important support, pervasively bearish sentiment, an over bought/over owned US dollar and the ‘Sitting Democrat’ election year cycle.

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It’s Your Fault That I’m Long

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Well, Slopers finally pushed me over the brink to bullishness. Well, perhaps that's going too far; but I will say that the critical mass of some of the best minds here – all of whom seemed to have adorned bull horns – compelled me to step up and get long and big with FXE and IWM plus trim back liberally on shorts.

It's definitely helping. Looking at the IWM, it seems to me we're basically going to shoot for the upper bounds of our old range.

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