Yesterday was more tedious than I expected , though the bulls made some significant targets, notably the 50 hour moving averages on both SPX, now at 1873 and ES, now at 1868, so in effect at the same SPX level. The action yesterday looked somewhat bearish in the afternoon, and a new falling megaphone has been established, which I posted on twitter last night. If we see weakness this morning, which seems likely, then I will be looking for possible support at 1873 SPX. SPX 60min chart:
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.
And Banks Wonder Why People Distrust Them
If it wasn’t for the sheer magnitude of the idiocy associated with what happens behind the scenes at most major banks one would just laugh. However, one can’t help but look at just the latest story to grace the headlines referencing Bank Of America™ and its now uncovered “oopsy” accounting and wonder should you laugh or be scared.
Suddenly it’s been revealed that all the “extra” money they had to bolster their balance sheets which allowed them to offer dividends, buy backs, et al actually wasn’t there. So much so that the Federal Reserve (supposedly the overseers that are responsible that such things don’t/can’t happen) has now rescinded the “all clear go ahead and pay out” to “Holy crap what?” (more…)
A month ago, I did this post called SHTR which – – when Twitter was in the 50s – – stated once again what a piece o’ crap Twitter was. Well, with the stock now trading down after hours at prices never before seen in its history, I guess we can call this Tim’s Occasional Winner #3,892.
Tip of the hat to Sloper and frequent contributor Ryan Mallory for suggesting GOGO as a short position. This joins the pantheon of former MOMO stocks; in this case, it’s down to about one-third of its former glory.
Another Tuesday, another upsurge. Do I look worried? Nope. Topping patterns abound, such as Discovery Communications, shown below. This is one of my (many) short positions, and I’ll be damned if I let a five foot tall albino troll scare me aware from opportunities like this.