My two big winners today have been my GLD short and my NSR short, both of which I covered promptly at the opening bell. I am pretty “light” right now, relatively speaking, but oh-my-goodness, my finger is quivering over the “Execute” button where 30 short-sale orders stand at-the-ready. I am delighted to see some strength in the market today. Keep buyin’, suckers! (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.
Back on 15th January with SPX at 1839 I wrote a morning post suggesting that the low just made was of poor quality and giving two trendline targets for a better low. We hit the lower trendline of those two yesterday and for the moment at least we now have a rising channel established from the 1646 low. It may be that this channel won’t last long, and sometimes they don’t, but as long as it survives it is now key support, and that low yesterday may have been the low before a move to the rising wedge target at 1965 begins. What is also worth noting from the daily chart is that we now have possible positive divergence on the daily RSI 5, which delivers the best short term reversal signals on the daily chart. SPX daily chart: (more…)
In the last few days you should have seen quite well how to use the Odds Comparators in action. Here is a brief re-cap: when the odds for a LONG trade become good (see image below, black arrows pointing at the end of red candles), we enter LONG trades. Then on the following bounce, we let the market exhaust its push and when the odds are good we go SHORT again.
If the odds are not good we do nothing, we wait for good odds. (more…)