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.

Gold/Oil/Copper/Silver Conundrum

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Below are four Weekly charts of Gold, Oil, Copper, and Silver.

The price action for the past few weeks on each one is presenting as a bear flag, either at, just above, or just below a major support level. Any attempts, so far, to sell off below these support levels have been met with defensive buying/short covering…ones to watch for a potential break and hold below their recent lows as a signal of more weakness in these markets, which will likely have a negative impact on the equity markets…this ties in with the theme mentioned in my last post on the Major Indices and the Major Sectors.

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Hedge Fund Market Wizards Book Review

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I have been wanting to write a review of the new Market Wizards book for some time, but it took me a 0711-hedge few weeks to slog through it in my spare time. I'll come right to the point: I think I got more out of this book than any of the prior Wizard books. All of them are good, starting with the first back in 1989 (side note: years ago, I worked for one of the Wizards in the original compilation………..err, don't ask).

I think the quality and sophistication of the information in the book is a cut above the others, probably because the individuals featured in this volume tend to be seasoned managers of very large funds. If you're a serious trader, I urge you to buy the book; I heavily highlighted my copy, and I've retyped some of the favorite segments below. The quotations are from different parts of the interview, so please read its paragraph as an independent snippet. The only organization I've provided is to precede each block of quotes with the name of the person who was being interviewed:

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Agrium on Multiple Time Frames (by Ryan Mallory)

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I've long been a fan of trading on multiple time-frames with daily being my primary chart-of-choice. As a swing-trader, I rely heavily on other time frames like the 30-minute for determining my entry intraday and then the weekly to see if there are any longer-term problems that are coming to the surface that the daily doesn't clearly show. 

I took a trade in Agrium (AGU). It doesn't have any flashiness/excitement to it, but it does show on multiple time frames how the bulls clearly have the upper-hand. As a result, I'm taking the recent weakness to establish a long position at current support levels with a tight risk and favorable reward scenario. 

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