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, on yet another rivetingly-exciting day in the capitalism-based free markets of the United States, we gave upon that oil painting known as Stocks. I offer you one of the few even slightly interesting movements today – – Polaris Industries, on which I am short and also have put options. There are a couple of “must break” levels that I’ve tinted, but………I’m hopeful.
I have decided that whenever the market gets too annoying for words, I shall strike back the only way I know how: with the most obnoxious couple ever broadcast: Marty the creepy puppet and Ron the child-porn-loving canibal-fantasy guy. The market deserves nothing more. I used it in the comments section in the prior post, and the market instantly and obediently stopped going up and began heading lower, as God intended. Be warned, market. Marty is at my disposal.
Yesterday was the sixth day of this ride up the daily upper band, and may well have been the last. Albeit SPX closed green it was the weakest day of the band ride so far, and never quite reached the upper band during the day, though it closed not far short. Fewer than 25% of band rides last more than six days, and fewer than 15% more than seven days, so the band ride is most likely over or ending shortly.
SPX has not quite reached my ideal rising wedge resistance trendline in the 1930-2 area, but it has hit an alternate and perfectly valid trendline at the high yesterday, so while SPX may go higher, equally it may not. If the high was yesterday then in all probability the likely opening gap today will not be filled. SPX daily chart:
I really wish the entire video was available for me to show you, but I can’t find it (except for the small piece below, which doesn’t do it justice). I urge you to go to Valleywag to watch the video of one of the most hilarious bits ever, and certainly the funniest (and most accurate) portrayal of anything to do with the Silicon Valley in which I reside.
