Slope of Hope Blog Posts
This is the heart and soul of the web site. Here we have literally tens of thousands of posts dating back over a decade. These are listed in reverse chronological order. You can also click on any category icon to see posts tagged with that particular category.
There’s a precious metals dealer in my town that has, in recent years, been paying for very big ads in the local paper. Until recently, their headline read “Record gold prices? It is only the beginning!”
For obvious reasons, they’ve moved away from that headline, since it stopped being true, oh, about two freaking years ago. Now they’ve got a much smaller ad with a much different headline:
In the interest of aligning my suggestion with these grotesque market highs, I offer up another bullish idea – – Metro PCS, which is sporting a pretty clean inverted head and shoulders formation.
Well, now that I’ve gotten my grudgingly-offered long out of the way, let’s return back to the more natural Slope style and mention another short idea. The fir is New Gold, and for those who thought the bearish days of miners were over, look no farther than $HUI, GDX, $XAU, NEM, or ANV. I like the chart below in particular, and I’m using $8.09 as my stop-loss level.
A few folks on the blog are irked that I dare keep posting short ideas, since the market just keeps going up. OK, OK, here’s a good long idea – Host Hotels & Resorts, which has a very clean breakout above a descending trendline. Sheesh!
Back on April 2nd, I did this post stating that I was shorting Nuance that day, in spite of Carl “Hello?” Icahn buying up a big stake in the company (which one wouldn’t normally associate with future lower prices).
I’ve marked with an arrow the day I did the post. Although the stock dipped afterward, it did push the position into a loss for a little while with subsequent strength, but this morning took care of all that. Nuance is presently down nearly 20%, and I’ve covered to take a profit. It just goes to show one mustn’t always be scared of really handsome, sexy billionaires. Often the chart is still right. (more…)
We are reaching the end of the usual spring high window. May starts tomorrow and the last three spring highs on SPX were 2nd April in 2012 (failed retest end April), 2nd May in 2011, and 26th April in 2010 (slightly exceeded high ten days previously). SPX is now retesting the mid-April high and if it’s going to turn, this is the place. If we see a sustained break over 1600 then SPX will most likely run quite a bit higher over the next few weeks but until we see that I’m leaning short with a target back at the 200 DMA on SPX: (more…)
Most of you read my glowing review of my new car, the Tesla Model S, late in March. It’s only been a month, but TSLA is up about 50% since then. They report earnings next Wednesday, so it’ll be interesting to see if the report is staggering enough to support these valuations. I continue to believe Elon Musk has brought us the car company of the future.