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.

General Screwup

By -

ARGH! Aie-eeeeeeeeee!!!!!!!!!!!!

OK, I present to you my Royal Screwup Of The Day: General Motors. As some of you know, there’s nothing quite so painful about being correct on a trade and yet losing money on it. This is one of those times for me.

I have been bearish on General Motors for a variety of reasons. They came out with their earnings this morning. The Street loved what they heard. They bid the stock up massively (relatively speaking; we’re talking about General Motors, after all). (more…)

Key Inflection Point Area

By -

After very solid AAPL earnings last night ES has gained 10 points and is testing those highs at the time of writing. This means that the inflection point that I have been talking about over the last few days is likely to be tested today and tomorrow, and the way this breaks will most likely determine direction for the next few weeks.

Front and centre this morning is the falling megaphone on NDX, with untested falling megaphone resistance in the 3610 area, and a distinct possibility that NDX will gap over that at the open. That would be bullish and would suggest strongly that SPX will test the highs, but NDX will still look potentially bearish because of the nice looking H&S forming there on the daily. The ideal H&S right shoulder high would be in the 3630 area, and I have an alternate, lower probability, falling megaphone resistance trendline in the 3670 area. NDX 60min chart: (more…)