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.
This post may draw the ire of precious metals trumpeters on Slope (ahem – “Kooks” – editor), but silver looks exceedingly vulnerable to me here, at least in the intermediate term. It has already slipped off the small volume pole that was holding it around $22.50 and is now solidly in a volume hole. I don’t see much stopping SLV from getting down below $20, at which point it will find a home in the $17.50-18.50 range for a bit. If it slides off that pole too, we will hear a collective liquid metal scream.
What would give me pause is that SLV is well into oversold territory on the 5-day RSI and also on the 14-day RSI. There is little to stop this from getting down to $17.50-19.80, however.
Data released today (Friday) shows that inflation dropped last month in the Canadian Core CPI and CPI, as shown on the graphs below. (more…)
Although today’s runup to new lifetime highs across most indexes doesn’t make me feel like celebrating, it’s Friday, so………….. (more…)
A thoughtful Sloper just emailed me this and gave me permission to share:
A different approach to shorting on SNX
As one can see in the graph below, SNX gapped down on lowered guidance and a decline in profitability. If one is interested in shorting the rebound, where would a good entry point be?
A classic approach would be to wait for the price to recover to above 38, at the bottom of the gap. But is that the only way to decipher an entry point? A 50% Fibonacci retracement level of the total decline at 36.63 could be another good approach.
The shorts certainly seem to think this could be a good stopping point. Yesterday, they held the stock under the 50 day MA and 58.93% of the day’s volume was due to shorting. However, today at around 11:30 AM, the stock is above the 50 day MA and around the 50% retracement level. Time will tell if this is a good short at this level.
Somebody’s loading up on U.S. $…a forecast of things to come (e.g., a correction in stocks)?