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.
For many years now, most of the world’s insight into the financial markets comes in a 5 second pre-commercial blurb near the end of the nightly news. Some version of Brian Williams stating “… Wall Street closed today with the DOW up 25 on a well-received jobs report. And in other news, a panda learned to wipe himself…” No real shock that this disservice hurt millions of retirement accounts – delaying that beachside condo purchase in Bonita Springs – at least until the balance is “back up again”.
Logic would suggest at least some of these IRA/401k investors would pay a little more attention to financial media (albeit mainstream financial media), in an effort to avoid the financial illiteracy which was so costly the first time. I continue to expect the herds of sheeple to maintain focus on Honey Boo Boo, however, the job of defeating one’s own ignorance is made more difficult by the mainstream data sources available.
Well, not exactly a great start for the bears in September, which is ostensibly the one really "bearish" month of the year. QE3 looms large, and next Thursday we'll finally have the truth. At this point, I want Bernanke to pull out the big bazooka so that we can know what we're dealing with and stop all this quantitative teasing.
Anyway, see the big bell? Give it a good ring when all this central banker crap is over. I'd really like to trade again then. Have a good weekend……….
I covered my TLT profitably yesterday, since I didn't want to hold it into the jobs report, and that was the right move (take note of the brief surge this morning in bonds). I re-entered my TLT short today at a better price, 124.84, and I think the bigger move down is starting.
Ever since July 23rd, the Euro has zoomed over 6% higher based on, from what I can tell, little more than encouraging words and pledges from European leadership.
The massive head and shoulders pattern is still firmly in place, and with today's "QE3 is absolutely coming" rally, it seems we may be approaching an exhaustion point for this move. I am still trading lightly, retreating to a full 70% cash position as of this writing. Next Thursday, the smoke will finally clear and I think we can all trade a lot more freely.