My biggest profit today came from the least sexy stock I can imagine – Campbell’s Soup. It’s about as far away from a Twitter trade as one could conjure up. In any event, I shorted it yesterday, taking advantage of its lurch up toward its gap. I think it’s got further to fall. I’m noticing other boring consumer stocks (like GIS, for instance, which is General Mills) weakening as well. (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.
Brazil Going to Get Waxed Again
No Firm Direction Yet
Yesterday was a tedious day that didn’t go far or decide anything. I’m still leaning bullish but short term ES is retracing after established negative 60min RSI divergence yesterday. I have a small double-top target at 1801.5 and have key support around the weekly pivot at 1796.20. This is the level below which the bear case will start to look interesting again. ES 60min chart: (more…)
Chilly Musings
The winter cold has set in hard around the San Francisco Bay Area (even though we’re technically still in autumn), and, now that all the day’s tasks are done, I finally have some time for a proper post.
Looking at the big equity indexes, things kind of stalled from the vicious upsurge at the point I’ve marked in green. We’re in a (very!) modest down-channel right now, and the real moment-of-truth comes if and when the price can penetrate the level I’ve marked in magenta. (more…)
