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.
Thirty-four billion dollar firm John Deere (which,umm, incredibly, is about the same market cap as Twitter) is looking somewhat flaccid here, folks. What should have been a clean bullish breakout is limping downward, and I have added this to my dazzling array of shorts. 90.89 is the stop-loss price I am using, just above the high of January 13th. They report next month on the 12th.
One would be hard-pressed, I think, to find any trader – be they bull or bear – who is in love with 2014 so far. Below is a simplified chart of the ES for the year so far. As you can see, we’ve gone absolutely nowhere. If the market rips higher, it just sells off. If the market plunges (as it did, as so often before, this morning), it simply recovers. Only the most nimble (and fortunate) ES traders are thriving. For the rest of us…….this kind of action gets old pretty quickly……
These charts still look great on the long side, even with indexes at nosebleed levels:
This morning, we all woke up the this news:
This is the fifth post in my Brave New World Series (BNW Series) since SPX broke over major long term resistance under 1600 in April 2013. The thrust of this series is to argue first that the break confirmed the end of the secular bear market that began in 2000, and to look at where equities, particularly SPX, are likely to go from that break. (more…)