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.

In Case There Was Any Doubt

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I did a post less than a month ago called Won’t You Be My Neighbor? which vividly captured a crumbling rustbucket of a “house” that was being offered for $1.8 million. The house is located on a very busy boulevard (in spite of the “very desirable area” mentioned below), and I’ve been keeping an eye on it for a “Sold” sign ever since. The absence of such a sign made me think, well, people have finally come to their senses. No one is buying this dump.

Of course, this isn’t the case………I present to you this news from this morning’s paper:

1115-house (more…)

Setting up House in Crazytown

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SPX reached Mike Vacchi’s Bet The House level yesterday, stayed there for minutes rather than hours, and then retraced seventeen points before bouncing. I had a really fun day after three days of dreary intraday tape this week, and it was great to have a two sided day. What had the bears actually achieved by the end of the day? Um ……… well …….

Not a great deal really. A marginal lower low was made on SPX for the day but while that might be interpreted as a downsloping H&S forming, it can equally be interpreted as a sideways megaphone forming here. We will need price to set direction today to see whether we are finished on the upside short term. If we get back to Bet The House, which is at 2043.50 ES today, then I’ll be looking for short entries again. SPX 5min chart:

141114 SPX 5min HS or Megaphone (more…)