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.
As of this writing (I have to say that, in case the powers that be decide to do something), the markets are down, aided in small part by the Euro doing something it hasn't done in eight months: falling. It's down almost 1%, but the real question is whether it'll cut beneath its breakout line; a dip below 1.3478 would damage this breakout severely enough to give the bears hope.
I've seen a smattering of articles urging people to buy Japanese stocks based on the very bizarre logic that the Nikkei was at 40,000 in 1989 and it's at 12,000 now, so it must be a great buy (these numbers are rough guesses, but I'm not going to bother getting the precise figures; you get the idea). Looking at EWJ, it seems to me that, by and large, Japan is trapped in a trading range, and we're on the high end of the range now, so it should be shorted.
I've been a raving HerbaLife (HLF) bear for months, and although I had absolutely no opinion of Carl Icahn up to about ten days ago, after the Ackman-Icahn slugfest, I decided Ackman (bearish on HLF) was a sharp, classy, intelligent investor whereas Icahn (bullish on HLF) was an abrasive loudmouth. I'll say it again: I'm with Ackman.
That was a very nice looking H&S setup on SPX and ES on Friday morning, but the serious doubts I expressed about it then proved to be very well founded. SPX closed another week at the upper weekly bollinger band, and as I mentioned last Monday, this is rising at about ten points per week, so if we see the same again next week the target area would be 1522/3 on SPX:
Over the past several weeks, I've noticed a steady but very clear climb in Slope's traffic (this is one uptrend I do not mind seeing). I haven't seen traffic this strong in many, many months.
This is particularly gratifying to me since Slope is, let's face it, predominantly a blog for stock market bears, and since down-days have apparently been ruled illegal, it's shocking that more and more people are crowding into my little corner of the web.
I just wanted to take this opportunity to welcome our new brethren; I won't waste space on stuff that's already on the site, so I'll simply point newcomers to a page about lil' old me and a handy guide on how to join in the fun within the comments section.
I shudder to think how popular this place is going to get when we get our paws on a bear market again. Ah, I hear snickering out there! It'll come. You'll see.
So, again, welcome new Slopers; I'm glad you're here.
