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.
Allow me to share a simple sketch I drew that was part of an NFTRH interim update for subscribers last night. The black line is where we have been. The blue line is a projection of what a typical correction (whether a healthy interim one or a bear market kick off) might look like.
We used real charts of the Dow, S&P 500 and Nasdaq 100 to gauge the entry into the current correction and now the resistance points to the expected bounce off of the US market’s first healthy sentiment reset in quite some time. But our cartoon above gives you the favored plan on how the correction could play out. (more…)
Here’s today’s swing-trading watch-list:
Long Las Vegas Sands (LVS)
This is a riot: watch the gubernatorial debate in Florida as the two candidates have a pissing match over………….a fan. One of the candidates wanted a fan for a little bit of cooling, and the other guy insisted it was against the rules of the debate (in point of fact, the rules forbid “electronics” like, oh, say, having a personal computer or iPhone during the debate, which makes sense – – – most folks agree a small electric fan does not qualify as “electronics”). Pull up a chair, grab a Coke and popcorn, and enjoy:
Tim Knight, me, Mr. Permabear, was beating the “Buy” drum this week, hoping for a bounce. Well, the bounce is underway, and it’s a beefy one.
I am taking things on a stock-by-stock basis. I don’t expect to nail the top of the bounce. On the contrary, I expect I’ll enter plenty of positions too early. However, I don’t want to prejudge the size of the bounce. As I said, I am judging each stock on its own merits.
Thus, I am beginning my ravenous re-entry into bear-land by shorting these 30 stocks soon after I put up this post. They themselves have already bounced mightily to zones I feel are prudent for shorting. I may well have 200 positions by the time I’m finally done.
When will the bounce end? The Fed announcement in a couple of weeks? Election day in the first week of November? Today? I don’t know. I do know this, though: the bulls are in for a very, very big surprise. Just like before. You’ll see. (more…)