A long-standing favorite short of mine has been Apache, whose magnificent diamond pattern I've pointed out before. This looks like an amazing long-term short.
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.
Topping is a Process (by Springheel Jack)
I think equities may well fall today, but if that isn't the case, the anchor for the close today is the weekly upper bollinger band on SPX, and that is now at 1534. If we are to see a close hugging this band for yet another week, I'd expect the close today to be in the 1526-34 area, ideally near 1530:
Midnight Rockers
Just to wrap up the day, I thought I'd share three stocks that are doing interesting things after-hours.
First is Verisign, in which I have a small short position. It looks like it's going to finally close its gap up nice 'n' tidy, and I'll probably add to my short at these higher levels (it's up about 2.8% after hours).
Next is one of my larger shorts, Agilent, which is going to gap down very nicely. I might go ahead and cover this one to take my profits.
Last, and most interesting, is HerbaLife (in which I have no position at all, but which I've enjoyed profits from by way of shorts in the past). Carl "Hello??" Icahn ruined Bill Ackman's evening by announcing a huge stake in the company, and the stock is zooming higher. It's going to be tantalizing mashed up against that diamond pattern, so I might just hop in with Team Ackman again.
Good night, everyone; see you Friday, before the long President's Day weekend.
What Market Art Thou? (by phantomcapital)
Traders have one of the most difficult jobs in the
world. On top of having to figure out
market direction we also have to fight emotion, calculate risk, determine trade
size, pick entries and exits, and battle to stay true to our trading
plans. And then, after we master all of
these facets of the game, we then invariably will have a few days of "I
was right about direction, how come I lost money?"
This weekend I was perplexed as to why I had a few long side
losses last week despite the trend in the S&P being very clearly
bullish. So I started to ask myself
why? What did I do differently? And the answer hit me like a freight
train. Last week I was trying to jump
the market early for a BREAKOUT to much greater highs, where as before I was
sitting back and JBTFD; just buying the freaking dip. Why is this important? Simply, the market can trend in two very
different ways. I call them the Grind
and the Explosion. The difference is
enormous and directly relates to trading strategy. Let's explore.
Finally Finished with my Standing Office
I don't know if I'm fully used to standing up all the time (tip of the hat to the several Slopers who told me to get a mat to stand on; it's crucial!) but I am liking the new office.
