As I mentioned last night, I was delighted beyond description to see MDR finally drop its trousers. I first suggested this as a short back on May 15th. My puts are up more than 50%, and I’m going to hold on to my short for a while. This stock, in my humble opinion, has much, much lower prices in its future. (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.
Positioning for a Down Move in SPX
I have been exercising patience in the face of this move up and refraining from positioning to the downside too early, given that I was expecting that at least SPX 1710 will get hit and the structure to the upside looked incomplete. At this stage, with SPX having hit 1710 today and soon to be bumping up into the TL off 2009 lows, I am now ready to position for the bigger move down, and wanted to share how I think about it. (more…)
Like I Said Yesterday About Gold……
Chop Chop
There’s not a huge amount to go on in the short term equities charts at the moment and while that remains the case it’s worth remembering that most or all of these charts are still in the right areas to be forming the second highs of double-tops for the move up from the June low. I don’t think that’s what we’re looking at here but it should be borne in mind, and in the event we were to see a sharp breakdown from here then the target on ES would be the 1635 area. As I said, worth bearing in mind but not the most likely scenario at the moment. (more…)
