I really like the two charts below on the short side. I confess that the first one, TCK, has been frustrating for me. I didn’t think it would show as much strength as it has, and I’ve got some put options that are underwater. Conservative chap that I am, they are November options, so I’m not too nervous; I think ultimately the pattern is going to work out for both of these. (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.
The Gold Gap
Gold has bounced nearly 9% since bottoming early last month, and it is at not only an important trendline but also fairly near a major gap at 130.38. I haven’t touched precious metals much lately, but earlier today I shorted a medium-sized position of GLD with a stop at 130.39. (more…)
A Time-Saver
Don’t bother looking at real-time price data or paying for the fees. You might as well stare at the sine wave below. It is as accurate and forward-looking as the “market” we are liviing through right now. When I did my EKG post this morning, I was being partially-facetiious. But the fact is, we’re not dealing with facetiousness, we’re dealing with feces. (more…)
Mind The Gap
ES broke under 1680 support overnight and the obvious next target is the possible H&S and double-top neckline at 1670.5. The last positive RSI divergence that I was looking at on Friday morning on the basis that these would usually reach the 70 level on RSI has failed to do so as the 30 level on RSI has hit overnight instead. ES 60min chart: (more…)
