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.

Intraday Update on Russell 2000 and S&P 500 Indices

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The Russell 2000 Index is in demand, so far, today, as shown on the one-day comparison chart below with its fellow Major Indices.

The RUT:RVX (Russell 2000 Volatility Index) Daily ratio chart below shows that the Russell closed above its downtrend resistance line yesterday and has advanced further, so far, today. The question is, can it hold onto its gains by the close today, and thereafter?

 

The SPX:VIX Daily ratio chart below shows the S&P 500 Index near the top of this week's action, so far, today…one to watch to see if it can advance and hold above its near-term resistance level of 92.50.

 

Deflation: As Good As Gold?

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It has been a year since gold began its downward biased consolidation out of the acute phase of the Euro meltdown and resulting hysteria.  In that time, the deflation case was released from the jail that had been a heightened public fear of inflation (the pinnacle of which was in spring of 2011, a time when bond king Bill Gross was very famously short long-term US Treasury bonds).

 

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Still Leaning Bearish (by Springheel Jack)

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I mentioned yesterday that ES and SPX were looking short term toppy and that's even more the case today. On ES we have a possible rising wedge forming as I mentioned yesterday, and within that rising wedge ES has broken short term (weak) rising support and now formed a possible double-top. On a break below 1390 the pattern target is in the 1378 area, but I'd really be looking for a move to rising wedge support in the 1370 area. 

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Update on My Favorite Long-Term Short: ODP

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Back in May 2011, I originally posted about shorting Office Depot.  The idea is finding a sector with three competitors, with margin compression, struggling for survival in a crummy economy.

At the time, ODP was at $4.16.  Since then, its only bright spot was during the rising Ctrl+P tide of early 2012; but reality seems to have returned… and as of this writing, the stock sits at $1.63.

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