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.

Warning Signals (by Springheel Jack)

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I called my brother last weekend and told him that we might get an unexpected bearish breakdown this week or next week and that the QEX rally that almost everyone, including me, has been expecting might be delayed or even possibly cancelled. I was looking at the AAPL chart at the time, which I've been looking at a lot this week, and yesterday morning it looked as though the H&S there might fail. It hasn't though, and looks grimmer than ever after a perfect retest of the H&S neckline and failure of a small IHS from the low yesterday. This is an important chart and AAPL is big enough to move both the NDX and SPX significantly just as SPX is poised just above major support. I tweeted an hour ago that AAPL looks ready to bury short term and that is what it is from a technical viewpoint:

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Lazy Trade Long & Short: HAL & D (by Ryan Mallory)

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Halliburton (HAL) setting up nicely to the long side this morning. I took a long position in it at $34.16. Now the question is likely to be asked, why am I still adding long positions at this juncture in the market. For one, we haven't broken down yet, and haven't broken the 1430 SPX key price level that is necessary. Secondly we are still trading in an uptrend channel off of the 6/4 lows, so its hard to load up positions to the short side (though I do hold two positions short).

Finally, there are plenty of stocks out there that because of the weakness from the previous four trading sessions, are at critical support levels, and if they hold, and this market holds, we could very well see a sizable bounce. And because, our risk is fairly tight on the trade like the one here on HAL, I don't have to lose much capital before finding out whether the trade will ultimately be a winner or a loser. 

On the flip side, shorting the market here is a lot riskier as we are short-term over sold, and a lot of stocks that would've been nice to short, have already made sizable moves. So if you're a bear, you are better off waiting for that bounce in the markets before getting short in any additional manner. 

Here's today's lazy trades long and short. 

Long: Halliburton (HAL)

halliburton HAL swing trade

Short: Dominion Resources (D)

dominion resources D get short on it

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