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.
With our dear monetary leaders only two days away from bestowing upon
us their latest financial wizardry, we should be aware of the money
supply dynamics in play. This week FOMC will either ramp the production
of printed money, hang back and play coy while letting the existing $40
billion in MBS carry the load or heaven forbid, talk in some sort of
austere manner in a bizarre game of brinksmanship.
Money Supply Discussion From NFTRH 215:
Moving on, here is how one money supply indicator got it wrong…
All of us are afraid of something. To say or think you are not afraid of anything is self delusion. Lack of fear is not bravery either. Bravery is being afraid and still following through and taking care of the task at hand.
There are two fears we must overcome to be successful traders as these two fears will hinder and handicap your ability to make money while trading markets. These fears can freeze you in your tracks. Not only will they hinder your abilities as a trader but but also handicap you in all other aspects of life as well.
OSTK (overstock.com) looks like a nice long-term swing short opportunity. This
weekly chart speaks volumes to me: First off, OSTK has made an
impressive, but over-extended rip right up to a primary downtrend line
generating from the stocks’s all-time high back in Dec. 2004. Note how
every single overbought reading on this weekly chart, nearly a 10 year
span, has been followed by a very substantial correction. Typically, it
is the move back down below the 70 (overbought) level that confirms a
sell signal when incorporating the RSI into your analysis. As you can
see, the weekly RSI is currently poised to break below that level on any
addition downside or even sideways trading in the stock.
For the many of you who have been fetching my shipping address from my Contact Page in order to send me some Christmas cheer, here's a bit of Silicon Valley trivia: my "office" (which is a mailbox at the local UPS store) is the exact same one as Google's first one (just to be clear, I'm speaking of the street address; the box number is 711, which is where all the chocolate and wine shipments should be rushed).
Additional fun fact: famed venture capitalist John Doerr also uses it as his mailing address. You never thought a UPS store could be such a ritzy place, now, did you?
I was looking at Friday morning at the competing patterns on NDX. On the bull side there is a mostly formed IHS that would target new highs in the 2900 area on a break over 2700. This is the Santa Rally pattern if we are to see one. On the bear side there is a now mostly formed H&S that would target the the 2530 area on a clear break below 2625. That's still the case this morning, though the bear scenario has been strengthened considerably since by the strong rejection from the 2660 area on Friday. here's how that looks on the NDX 60min chart: