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.

Fun-B-Gone

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0613-escaledWell, wouldn’t you know it? The moment I’m starting to really enjoy trading again, along comes the biggest up day of the year. A major reversal in the ES and the NQ, apparently prompted by little more than the fact that the Japanese Yen stopped gaining value. Incredible.

The area around 1600 is representing very firm support for the market right now. That was our “breakout” area weeks ago, and twice now we’ve challenged the same zone, confirming it as support both times. What’s especially interesting about this level is that it also coincides with the ascending supporting trendline of the channel I’ve drawn. If, God willing, the ES breaks 1600 and can actually stay beneath it, that suggests a pretty important violation of support. But it hasn’t happened yet, so the support stands. (more…)

Nikkei Data in ProphetCharts

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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…)