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.

Let Me Add Some Cream to That

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Wow, what a day! Although the ES bounced about ten points off its lows, I actually prefer it that way. Closing at the lows usually means a big bounce the following day. I’d rather just grind it down one day at a time. I’ll do a longer post later – probably a video – but I at least wanted to mention Stabucks. They are one of my 99 short positions, and they just reported earnings. As I’m typing this, they are pretty much unchanged on the report (they’re wobbling between slightly up and slightly down), but I think this is going to drop to $66 in the weeks ahead.

0123-SBUX

A Case for 1775

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I gave the ES range in two parts yesterday morning, 1826 to 1835, and 1835 to 1844. The RTH low yesterday was 1835 dead and the overnight high was 1844 dead. Clearly ES has not yet broken out of the range. There was a sharp decline on the Chinese PMI numbers and ES broke down into the lower half of the range and then retested the 50 hour MA on a bounce. The opening advantage belongs to the bears this morning, and as long as we don’t see a break back over the ES 50 hour MA, currently in the 1837 area, then we may well see a test of range support at 1826 today. ES 60min chart: (more…)

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