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.

Holiday Week (by Springheel Jack)

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I did a weekend writeup at MarketShadows and if you want to see that it’s in the weekly MarketShadows newsletter published yesterday. You can download that as a PDF here. I’m using the two charts from that post this morning but there’s some additional commentary about the increased likelihood of QE in Europe that I won’t be recapping this morning. 

The first chart for today is the daily BBs and MAs chart on SPX, where we saw SPX close slightly over the 100 DMA and testing the current rally high and the upper daily bollinger band. Obviously there is significant resistance in this area:

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From the School of Hard Knocks (by Hawaii Trading)

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Had one of my best trading runs the last 14 weeks or so up to June 1, 2012, consistent profits, bagging each of 2 accounts. A Bag is a 100% gain. Then went on a trip with some large put positions on, knowing that where I was going I had land line internet and a nice wireless setup too, but on a brand new MacBook that I was just getting familiar with, so I kept my positions open, salivating at my recent success and wanting more. Monday came and the market played exactly into my hands although all internet was unavailable and I spent time checking MY systems, assuming that it couldn't be the reliable paid for land line internet. Missed Monday completely.

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Blunder Down Under………….(by BDI)

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Jesterx, one of the sharpest traders on the Slope, was kind enough to send me this video he put together.  In light of the wild volatility we have been facing as intrepid traders in this treacherous market of late, I felt it was imperative that all Dopes should see it. It's a MUST watch!  

 

Jail Bird……I hope you don't mind that I shared this with all Slope-a-Dopes as a header post. Thanks again, very well done, and a valuable lesson indeed!

Downandout
 BDI SOH's Idiot Savant

Money Flow for June Week Four

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Further to my last weekly market update, here is a summary of where money flow ended for Week 4 of June 2012.

The Weekly charts below of YM, ES, NQ & TF show that they all closed higher than the prior week (the ES, NQ & TF formed a bullish engulfing candle, while the YM came within a few ticks of forming one as it opened slightly higher than the prior candle's close)…all four on slightly lower volumes than the prior week. They've popped up and closed above the downtrending channel at their middle Bollinger Band and above the current month's Volume Profile POC (yellow horizontal line). The YM closed at its 1-Year Volume Profile POC (red horizontal dotted line along the right edge of the charts), the ES closed slightly above, the NQ closed well above, and the TF closed just below.

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