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.
October is turning out to be far more “trick” than “treat” for equity bears.
At the midpoint of the month, things looked sensational. Stocks were breaking down left and right, and it seemed that we had finally encountered a sea-change in the market.
Since then, however, stocks have exploded higher with a gusto that I underestimated. I certainly expected a bounce, but nothing of this degree. Much worse, it seems that the cessation of QE (announced yesterday) has done nothing to slow the equity bulls down.
This kind of environment can really mess with one’s head. Let’s take a look at the past couple of days on the ES: (more…)
I last wrote about gold in my post of October 9th.
Price is slipping back to its critical triple-bottom support level of 1180, as shown on the 5-Year Weekly chart below. I’m watching for a break and hold below that level for a possible re-test of the 1000 level as I mentioned in that post…particularly if the SPX:VIX ratio breaks and holds above the 150.00 level, as I mentioned in my post of October 24th.
What a vomit comet of a day, huh, folks? Below are a couple of the kinds of patterns I still love on the short side. I find them more safer and saner than indexes in general these days.
Here’s tomorrow’s swing-trading watch-list:
Long Gap (GPS)
Interest rates utterly collapsed at the equity market’s bottom on October 15th, and they have soared since then (as have, obviously, stocks). We are nearly a monstrous overhang at this point, however, and my view is that rates will resume their downward fall soon (with bonds, naturally, strengthening the whole while).