My adoration of David Stockman’s book The Great Deformation was, I hope, made abundantly clear with my extensive review of the tome (and, judging from my Amazon Associates page, an astonishing number of folks bought the book, including one chap who bought thirteen copies!). One of the charms of the book is its colorful language. For no particular reason, I dreamed up a drinking game based on the book; and, given the future that the book predicts, it probably wouldn’t be a bad idea to be fully inebriated for the days ahead. Thus: (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.
Excerpted from NFTRH 308’s opening segment…
A Closer Look at the US Dollar
Using the standard weekly currency chart we followed along for months as the Euro found resistance at the long-term downtrend line as expected, the commodity currencies long ago lost major support and non-confirmed the commodity complex and the US dollar moved from a hold of critical support, to a trend line breakout, to its current impulsive and over bought status. It is time now for a closer look at Uncle Buck since this reserve currency is key to so many asset markets the world over.
As the charts below show, USD is over bought on both daily and weekly time frames. But the monthly is interesting because its big picture view is that of a basing/bottoming pattern, and it is bullish. That is a long-term director, so regardless of what happens in the short-term, a process of unwinding the hyper-inflationist ‘Dollar Collapse’ cult is ongoing. Signs point to disinflation toward deflation. (more…)
I have been blessed with some amazing engineers in my professional life. I’ve mentioned one genius engineer I had at Prophet many times (Alex Dobrovolskiy), and here at Slope we’ve collectively been very lucky that I found an amazing engineer who created SocialTrade, the comments system, and many other bells and whistles on the site.
Regrettably, his availability is severely hampered due to educational commitments, so I’m seeking someone for a totally new project. This project has nothing – absolutely nothing – to do with charts, trading, or anything else like that. I just need a Java wizard who wants to work closely with me on an experiment. I don’t really care where on Earth you are located; I just want someone creative, smart, and honest. Drop me an email if you are this person (or know of someone who is).
Here’s today’s swing-trading watch-list:
Short GT Advanced Technologies (GTAT)
I was toying with the rather hazardous idea of suggesting shorting Tesla (which is up nearly 1,000% from its lowest levels). I see it’s getting zapped this morning, so it’s probably too late for me to say anything, but I will make this one remark, which was the basis of my pessimism: they are starting to piss off their biggest fans (like me) with their delays.
The Model X has been “sort of” a product for years. There are over 20,000 paid reservations (mine is one of them) for the product, but it still isn’t announced. Hell, I can’t even find out the width of the vehicle to make sure it’ll fit in my garage! So month after month, they just keep stalling (and the folks waiting for the “economy” Tesla should probably look for 2018 as a delivery date). The grumblings and rumblings are increasing, and I’m starting to think other manufacturers are going to close Tesla’s lead. If the BMW i8 were entirely electric, I’d have cancelled my “X” order ages ago.
I was saying on Friday morning that the bear case shouldn’t be written off yet and, well here we are. The bounce failed at the 50 hour MA and SPX made a new low, closing well below the daily middle band.
In terms of past RSI 5 / NYMO sell signals the situation is improved as the decline is now larger than two of the 29 sell signal declines back to the start of 2007, and I’d also note that SPX and Dow also made the 38.2% fib retracement levels at the low on Friday, if this turns out to be a wave 4 retracement. (more…)