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.

Always-Higher Priceline

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One of the stocks I don’t touch with a ten-foot pole is Priceline. Yesterday afternoon, during my TastyTrade show, I was asked to chime in on this stock. I said I thought it would be higher today, based simply on the fact that it was sporting a very similar pattern than the one it completed in February 2012.

Well, earnings came out, and the stock slumped, so I figured I’d look like a bit of a dork on today’s show. But, for whatever reason, the stock did in fact open higher today, and I think – – as before – – higher prices are probably ahead. William Shatner’s fortune is probably based far more on PCLN stock than it ever was on Star Trek.

0510-pcln

Diamonds Are Bearish

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SPX fell away from the daily upper bollinger band yesterday, so this period of rising up just underneath the upper band has finished. What next? Of the three previous similar instances on the chart below (highlighted blue) two led to periods of sideways consolidation lasting several days, and the third led to a sharp retracement into the daily middle bollinger band, now in the 1587 area:

130510 SPX Daily Trendlines BBs MAs (more…)