I last wrote about what I call the Fed Monetary Stimulus Program "Canaries" in my post of January 11th. I have six of them…namely ETFs compared (by ratio) with their respective Stock Market Index. I chose these in order to determine relative strength/weakness, which may hold clues for further accumulation of riskier assets. At that time, five of the six were poised for a breakout above major resistance levels, and the sixth (European Financials ETF) was picking up steam and outperforming its Index.
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.
We, as traders, are analytical and intelligent people. We love numbers, charts, patterns, and correlations. We are thinkers, always trying to read into
the future of the market, predicting where prices are going, and figuring out
how to profit from these moves. While
these are great attributes to have, they can often be detrimental to a trader's
success. Hold on, you ask, how is the
act of thinking bad for trading. Its
called a trending market; or as I like to call it The Idiot's Tape. Simply, in a trending market, thinking too
much can be hazardous to a trader's financial health.
I can't remember the last time I was so uninspired to write about the market. This up/down/up/down insanity is enough to tear your soul out. I'm going to go Fully Lame on you and just show three charts that, after hours, are dropping substantially. I've tinted the zone where they're trading as of this writing.
Yo, guest contributors! Throw your fellow Slopers some content! I cannot be relied upon for anything inspired today!
I haven't been shy about slamming Zynga, but over the past month, I've mentioned a number of times how dogs like ZNGA and GRPN have been forming nice bases that were conducive to long positions. Groupon's chart looks nicer than Zynga's, but all the same, Zynga is finally catching a break and having a great day.