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.

Days of Destruction, Days of Revolt

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I just finished Days of Destruction, Days of Revolt by Chris Hedges and Joe Sacco. It is superb, and I've spent a fair amount of time typing in passages from the book below in order to capture some of its theme.

The "me" of twenty years ago wouldn't be caught dead reading a book like this. It is, after all, an unflinching assasination of our present capitalist system. As a younger person, I was wholeheartedly (and more than a little ignorantly) devoted to a dog-eat-dog, lassiez-faire capitalist system. And, in my adult life, I have lived that way, at least inasmuch as I created, built, and sold a successful business and have, before, during, and after that time, been a very active participant in the financial markets (both by way of trading as well as writing). 0805-revolt

Experience and observation have moderated my views, however. At the outset I will say that I still regard capitalism as the most proper, natural, and constructive economic system, but I'm a much firmer believer in a modified version – – consistently-regulated with a distribution of wealth more akin to the 1970s than the present day – – than I ever imagined I would be.

This passage from the preface of the book captures the pages that follow nicely:

The ruthless hunt for profit creates a world where everything and everyone is expendable. Nothing is sacred. It has blighted inner cities, turned the majestic Appalachian Mountains into a blasted moonscape of poisoned water, soil, and air. It has forced workers into a downward spiral of falling wages and mounting debt until laborers in agricultural fields and sweatshops work in conditions that replicate slavery. It has impoverished our working class and ravaged the middle class. And it has enriched a tiny global elite that has no loyalty to the nation-state. These corporations, if we use the language of patriotism, are traitors.


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Long & Short: RHT & BAC (by Ryan Mallory)

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Redhat (RHT) is setting up very nicely for a break out of the triangle pattern, and as a result I've taken a long postion in it at $56.19. On the short-side you have Bank of America (BAC) which might be surprising to some of you that I'm posting it again, after having just been stopped out of my short position on Friday. But actually, today, it looks even better for shorting than it did on Friday, and in particular the risk can be kept tighter. 

Here's today's long & short:

 
LONG: Redhat (RHT)
 
Redhat RHT
 
SHORT: Bank of America (BAC)
 
Bank of America BAC

Be sure to check out Ryan's Blog at SharePlanner.com

RUT Roh… Small Caps Could Play Catch Up

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'Rut Roh' would be the utterance of stock market bears if the Russell 2000 small cap index breaks the Bull Flag.  In this summer of discontent the RUT has flagged around a support zone while the S&P 500 has jaggedly sawed its way upward. 

If the markets finally gets over the obsession with Bernanke and Draghi and the QE is that is not directly forthcoming they are expected to shake off the noise and finish up the summer rally as USD continues to take a normal but significant counter trend correction.

As NFTRH has been stating since the beginning, this will be counter-trend stuff only to reset sentiment and get people on the wrong side (bearish is and has been the wrong side since May).  But it is also a good trade, with the best part potentially directly ahead.

Small caps could be a 'catch up' play along with many non US markets.  Here is the chart of the Russell 2k showing momentum non existent and yet MACD zero +, RSI at support and CCI having gone above -100.  If the broad rally is to continue, this index (IWM is the tracking ETF) could really get in gear.

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http://www.biiwii.com/analysis.htm

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