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.

Impatient with Gold

By -

I came into the day with 94 short positions, the two largest of which were FXE (the EUR/USD, basically) and GLD (gold). I covered the FXE at a loss, but the profit on GLD was over three times the FXE loss. Better still, it looked like gold was going to have a fantastic down day, since it was deep red in spite of the amazing EUR/USD strength. Sadly, I’ve gone ahead and covered (still with a solid profit) since it failed to break yesterday’s low. I confess I’m getting a bit impatient with this move. My target is shown as the red dotted line. (more…)

Another Inflection Point

By -

SPX tested the daily middle bollinger band hard yesterday but closed above it. My main target support level is at the daily lower bollinger band and to make that is going to require a close below the middle bollinger band, ideally this week but possibly as late as next Monday. Meanwhile this area is an important inflection point and I have both bull and bear scenarios in play here. SPX daily chart: (more…)