With AMZN and MSFT exploding higher, it was interesting that GOOG was off in the corner, clipping its toenails. This stock is very richly valued, and I shorted it at 1026.262 yesterday with a tight stop just above recent highs. It seems far more likely to soften here than surge yet again. It’s easier to trade these things once earnings are out of the way. (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.
I’ve had a very busy morning with offline stuff so just a quick post today. There have been two promising setups for a decent decline on SPX and ES this week and, so far at least, both have just faded away as ES has instead been forming a rough triangle. In the context of the steep preceding rise I’m inclined to interpret this triangle as a (62%) bullish pennant, so I’m leaning towards at least a test of the highs here. ES 60min chart: (more…)