I’ve recently been shorting from the list of stocks that I told myself I would never, ever short. For instance, I shorted decent-but-not-that-great burrito-maker Chipotle this morning. Why? Well, the earnings risk is certainly out of the way. That pop has a good chance of deflating at least down to the breakout point. (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.
At The Weekly Upper Band
SPX traded above the daily upper bollinger band all day on Friday and closed eight points above it. A move like this often runs to three days trading above the upper band and if that’s the case today then I would expect the upper band to close in the 1742-5 area, and for SPX to close no more than ten points above the upper band. What is also worth noting on this daily chart though is that SPX tested rising wedge resistance from the June low on Friday, and regardless of whether this breaks later, we may well see a retracement from this test here. SPX daily chart: (more…)
