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.

5 Reasons to Buy Apple Right Now (by Ryan Mallory)

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How do you like them applesFirst position I've taken so far this morning and I couldn't help myself. Apple (AAPL) has been getting hammered lately, but I'm finding good reason to get long on it this morning at $637.69. 

1. You have a huge sell-off that seems to happen once a quarter. Each time this has resulted in an excellent buying opportunity. 

2. You have a piercing of the lower Bollinger-Band. Nine times out of 10, this leads to a near-immediate bounce in the stock's price. 

3. Not shown below, but easy to do on your own (would make the chart too messy) is the perfect 50% retracement on the Fibonacci. 

4. Perfect test of the trend-line off of the May lows. We touched it this morning and have since bounced. 

5. Massive support at $620 that should stop any additional bleeding going forward. I've placed my stop-loss at $613.46.

Here's the AAPL chart.

Swing Trading Apple Long at 637

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

Ragged Rally

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The bloom is definitely off the rose of last week's rally above the descending trendline. Of course, this is a pretty short-term line, but all the same, Friday's surrender of the 7.8% (snicker/guffaw) unemployment rate and today's continued weakness is definitely challenging the integrity of that trendline as support.

1008-es

It should also be noted that the weakness of tech leaders like AAPL and GOOG have caused a marked divergence in the NQ performance (in black, below) are compared to the ES.

1008-divergence

Possible Double Top on SPX (by Springheel Jack)

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As I was suggesting it might, SPX tested the highs and the upper daily bollinger band on Friday and reversed there. That leaves a possible short term double-top in place on SPX which would trigger a target in the 1385-90 area on a break below the late September low at 1430. I'm not actually expecting that to happen, 65% of double-tops never make it back to the valley low, but it's something to bear in mind. Until that happens though there is very big support around there at SPX rising channel support, the lower bollinger band and the 50 DMA and that would be hard to break below:

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Lazy Trade Long & Short: NTE & DRC (by Ryan Mallory)

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Today's Lazy Trades comes with me jumping into NTE at $11.38, which really hasn't been that great of any entry so far as it dipped below that level since getting in. Nonetheless, the stock is seeing insane amounts of volume while trading sideways the past few months. 

As it breaks out today, I plan on keeping my stop-loss below the 10-day moving average and ridiing the stop-loss with the move higher (should it be so kind). 

For the short setup, Dresser-Rand (DRC) looks devilishly bearish with its double top and bear-flag rise into resistance. Now that it is trying to break down today, it makes for a great risk-reward opportunity. 

Here's today's Lazy Trades. 

LONG: Nam Tai Electronics (NTE)

Nam Tai Electronics NAM swing-trade breakout

SHORT: Dresser-Rand (DRC)

Dresser-Rand DRC swing-trade strategy short

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