Slope of Hope Blog Posts

This is the heart and soul of the web site. Here we have literally tens of thousands of posts dating back over a decade. These are listed in reverse chronological order. You can also click on any category icon to see posts tagged with that particular category.

Bearish Engulfing Candlestick Patterns

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QQQ daily 6
SPY daily 6

The SPY & QQQ both put in Bearish Engulfing Candlesticks
at the close today.  Looking at the previous similar patterns circled on the QQQ daily chart above, both were
followed up by a substantial gap down the following day (one on a
Friday, the other on a Monday).  Therefore, although I can't give
specific investment advice, I can tell you that I certainly won't be
trying to buy the gap down if we happen to get one on Monday.  On the contrary, I
will most likely deploy what little dry powder I have left after adding
to my short positions yesterday and today.
-RP

The NASDAQ and the Weeks Ahead

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There are a lot of dumb trading rules out there (and a few good ones), but one I hate particularly is: "If it's obvious, it's obviously wrong."

No, it isn't. Some of the greatest trades ever were "obvious". I present to you another one – the NASDAQ. I shorted it early this morning, during the retard-jobs-ramp, and I think it's headed to 2538.25

How's that for an unambiguous projection?

1102-NQ