There has been a lot of talk this year about 3-D printing, and the superstar in the world of stocks is 3D Systems Corporation, whose chart is shown below. (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.
It seems likely that deadlock over the budget negotiations will trigger a partial shutdown of the US government tonight for the first time in 17 years. Equities have responded with a big gap down overnight and ES is trading at 1671 as I write. Looking at the ES 60min chart this looks like a breakaway gap under the support trendline of a pattern that could be read either as a falling wedge or a sloping H&S. The target for either would be in the 1640-5 area. There is some positive RSI divergence here and we may see a retest of broken support in the 1681-3 area. That would look very shortable. If this is a breakaway gap it shouldn’t be filled until the downside move has finished. ES 60min chart: (more…)
Since Boehner hasn’t wimped out yet (although he’s almost certain to do so), I thought I’d briefly celebrate this wonderful red morning with one of the funniest bits of all time. It pretty much captures how I feel about the government shutdown.
News equals noise. When are people going to get it?
The news means absolutely nothing to me as an options trader. The entire industry has been commoditized. And when I say this I mean that one offering (financial media outlet) is nearly indistinguishable from another. (more…)