It’s been quite a “meh” day for me so far. One of my zillion shorts, GCI, surged by nearly a quarter, so obviously I got stopped out of that at a loss (and was reminded of why I keep any individual position to less than 1% of my portfolio……….) And equities are stronger on the whole, although not by much. I covered some of my positions, most of them with profits, and updated the stops on the rest. I’m down to about 64% committed right now (the rest in cash). (more…)
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.
Snakes and Ladders
ES tried and failed to break back and hold above the 50 hour MA near the open yesterday and it was all downhill from there. The IHS patterns have obviously failed to complete and SPX is now close to another test of broadening wedge support. I think that wedge is going to break and this therefore looks like a formality, but it’s an important formality and more bullish scenarios are still on the table until we see the wedge broken. Here’s the chart I posted on twitter yesterday night with the updated wedge. SPX 60min chart: (more…)
