Well, I was saddened to hear that Bob Casale (Bob #2) of Devo died. And, as with our beloved BDI, it was from heart trouble (BDI is, mercifully, still with us). I’ve put one of the coolest Devo videos of all time at the bottom of this post as a tip-of-the-power-dome to Bob. (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.
I really meant to post this before the close (honest! honest injun!) but I didn’t. Anyway, this is one of those rare times I feel so bullish about a stock that I’m not only selling naked puts on it, I’m also buying calls. With earnings out after the close, and the stock bumping up 3% right now in reaction, it looks like this is going to pan out (considering the quantity of naked February $18 puts I’ve got, I certainly would hope so). Anyway, NBR looks like a squeaky-clean breakout above its triangle pattern.
Long Best Buy (BBY)
Watch the clip below, then read the article that just came out this weekend, and try to discern any difference between an outrageous spoof and reality. (Answer: there is none). (more…)
I realize that ten days in a row of “up” in a market can put the zap on one’s brain, but I’d like to quietly point out that the Russell 2000 is lurching toward a triple-crown of resistance: first, a gap fill; second, the underside of the intermediate-term trendline from November 16, 2012, and third, the underside of a long-term trendline from March 10, 2000. So, errr, if you still want to buy because Yellen thinks it’s a swell idea, there’s nobody to stop you. Go nuts.
This has been a really strong move up off the early February low, and without enough of a retracement so far to deliver a daily red close on ES. That means that there have now been a very impressive nine consecutive green ES closes off that low. More than nine closes is an impressive rarity, with ten closes in July 2013, eleven closes in March 2010, another eleven closes in November 2006, and then nothing back through to 2000. Will we see another very rare close over the nine today? Perhaps, but these really are very rare. The stats for today lean bearish, with SPX closing down 7 of the last 13 closes on the trading day after President’s Day, though these stats are much less bearish than those for last Friday. (more…)
Welcome to our morning briefing. Here we are reviewing short term setups ahead of the NYSE opening bell. If you are a scalper or swing trader then these setups may be of interest to you. As usual keep in mind that these are short term setups although they could be used as early entries for more longer term positions. (more…)