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.
As all of you know I am probably the least bearish trader around. I am a trend following pattern trader. However, to all things a season, and it is the exact time for the bears to finally do some technical damage to the tape.
Why do I say this? Because as pullbacks have gotten shallower and shallower over the last few months volatility (real volatility in price right now, not the market take on implied future volatility in the VIX) has fallen to a historical extreme and then painted an uptick. I posted these two charts on Sunday and I think they are well worth a revisit.
Well, friends, I’m off to the airport to begin a long, long, long flight. Five-star general Iguanadon has the keys to the car, and Slope’s contributors have stepped up and stated they will be doing plenty of posts for the next couple of weeks. I’ll still sorta kinda be here, just not quite as persistently as usual. My travels usually coincide with market turmoil, and hopefully this time will be no different. Up, up, and away!
This screen shot below just goes to show how a single data point can be spun according to the disposition of the observer. Reuters Business is “just the facts, ma’am”, when it comes to this morning’s consumer confidence number. Business Insider is the typical rah-rah, permabull, USE ALL CAPS zealot (BOOM – Good Lord, people). And, of course, our friend Tyler at ZeroHedge sneers at the ostensibly good news. As journalism students have long been told: “consider the source.”
I’ve mentioned AudioCode on more than one occasion, both here and on TastyTrade, and it’s finally rolling over nicely. The real payoff won’t happen until and unless it crosses beneath 5.29, but this is a good start.