Here’s today’s swing-trading watch-list:
Long Citigroup (C)
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.
Halfalife
One of those “one that got away” stories for me is Herbalife, which I wanted to short when the insane Ackman/Icahn battle was raging away. I felt the urge to be short HLF only because I consider Carl Icahn to be repulsive, with the moral rectitude of Bill Clinton and the boyish good looks of Jack Ma. It was also icing on the cake that I considered the company itself exploitative and scummy. All the same, I couldn’t find a single share to short, and I’ve watched merely as an interested bystander as it has lost over half its value over the past nine months. Nice goin’, Master of the Universe.
Two Down, One to Go
SPX broke down hard yesterday and closed near the lows, giving bears their first complete day in a while. SPX broke back below the daily middle band and, as long as we don’t see a daily close back above it, the next obvious targets are the daily lower band at 1985 and the 50 DMA at 1976. The band pinch here means that it is very likely that SPX will start an extended band ride in the near future. The bulls had a shot at starting an upper band ride last week and couldn’t sustain it. If bears can get SPX to the lower band then they get a shot at starting a lower band ride instead. SPX daily chart:
