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.

Swing Trade Quick Pick (by Ryan Mallory)

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HDFC Bank Limited (HDB) short at resistance. 

shorting hdfc bank swing tradeStock: HDFC Bank Limited (HDB)

Long or Short: Short

Entry: 40.71

Stop-Loss: $42.17

 

Chart: HDFC Bank Ltd (HDB) Daily

HDFC Bank Limited HDB swing trade short setup

Reason for Trade:  I took this trade today at $40.71 as it bounced straight into resistance on low volume. That volume level in this trade is key, because the amount of enthusiasm behind the quick rally was equal to what you'd see on Christmas eve or a shortened day of trading. There is also a long-term trend line that has broken (dotted yellow line) and the bounce takes price right into the underside of  the prior trend. 

The most promising of this setup is the broken descending triangle that has been broken and confirmed and is the main reason for me taking a short position in HDB. 

This  market is extremely over-extended, and should no doubt see a pullback in the coming days, if not today. Assuming as much should bode well for the short play I have now in HDB. 

Be sure to check out Ryan's Swing Trading Setups at SharePlanner.com

More Than One Tim

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After completely embarassing myself by stamping my little feet about someone bashing "Tim" – only to find out they were talking about Tim Cook – I must remind myself that there are a lot of Tims on the planet.

I've always liked my name; it's unusual enough not to be common, but it's common enough not to be weird. Below is a clip of one Tim – a Tiny one – which is a great cultural artifact (with Goldie Hawn's legs at the end as a bonus).

AAPL Tests Primary Support (by Springheel Jack)

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SPX closed at the upper weekly bollinger band on Friday for the fourth week running. This can last a while, but it's worth noting that at this stage we are unlikely to see big moves above the upper band and that band is only rising about ten points per week. Short term upside is therefore limited and any further moves up under the band before we see a significant retracement are likely to be slow:

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Wrong For All The Right Reasons (by Mark St.Cyr)

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One can’t help but look at the financial markets close as of Friday
and not shake their head in bewilderment. For anyone (including myself)
that has expressed caution since the beginning of this historic rise we
are left scratching our heads. The mantra of “Don’t fight the Fed” has
just been spot on. However, that saying was used far before, and for
other reasons than to explain what we are currently witnessing today.

Some only read the headlines trying to extrapolate any discernible
information for what we see taking place. Others just use a “going with
the flow” type strategy because they don’t know what else to do. It can
work for a time however, it can set oneself up to do exactly the wrong
things at the wrong times.

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