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.
In the interest of time, I'm going to roll three posts up into one. Below are three shorts I entered today.
The first is a nice retracement short; I'm using that horizontal line as my stop-loss level.
It's music time! This is a song BDI will surely appreciate; it was a favorite from my college days. It's also not a bad candidate for the Slope Army Theme.
Long-time Slopers know that I have had a special place in my black heart for Chipotle Mexican Grill. How do I hate thee? Let me count the ways:
+ The stock went up over 1,000% from late 2008 to early 2012 based on Mexican food which, in my opinion, is HALF as good as TWICE as expensive as anything I could get at any random Mexican joint in town
+ The completely bizarre, WTF behavior highlighted with the red line in the chart below showing the stock following a "something fishy is going on here" path for months on end;
+ The self-congratulatory signs in the store declaring that some – yes, some – of their ingredients were organic. That's like Hawaiian Punch's boast that they were made with 10% real fruit juice back when I was a kid. What's the other 90%? Urine?
In any event, the stock is getting its salsa ripped out this morning, down nearly $100 this morning. Hearty congratulations to buyers of put options on this former momentum favorite. Justice has finally been served on a platter.
The first thing to mention today is that it is Opex Friday, and we don't tend to see big moves on Opex days. That said there are some real signs of weakness this morning. I was looking for a hit of the upper bollinger band on SPX yesterday and the high fell slightly short of that. I would normally expect to see an exact hit here but we don't always get that: