I’ve lived in Palo Alto since the summer of 1984 (it only just occurred to me typing these words that this is my 30th anniversary here – maybe I should get a cake or something). Think about how much the world has changed since then; in 1984: (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.
Well, if there’s one thing you can count on in this life, it’s the insatiable, pig-like greed of the American retail consumer, who spends their collective life endlessly acquiring goods to fill the gut-wrenching emptiness of their lost souls (as you will note, I didn’t make the cut as the spokesman for Consolidated Retailers of America). The XRT fund is breaking out of its triangle, suggesting that retail could be in for continued strength.
Here’s today’s swing-trading watch-list:
Long State Street (STT)
It’s getting tougher and tougher to find charts that I can present as interesting bullish plays with a straight face, but I managed to dig one up – Granite Construction, shown below. Honestly, though, the rest of my Bull Pen watch list is full of nothing but greater-fool-theorem hockey sticks. Yeah, they keep going up, but God knows where you’d set a stop on any of them.
On the FOMC stats I was looking at last week, of the four similar instances since the start of 2010, and of the three of those that topped in the next few days, one topped on the Monday afterwards, and the other two topped on the Tuesday. If we are to see that intraday high today my target range is in the 1965-70 area and that would respect resistance on the primary rising channel on my weekly chart below. SPX weekly chart: (more…)