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.

Break On Through to the Other Side

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Of all the ridiculous reasons I’ve heard for pushing this astonishly overpriced market into higher highs is the “Santa Claus Rally”. What’s wrong with you people? I even checked in with some of the Barron’s luminaries; here’s their take on the notion of a Santa Claus Rally:

Mario Gabelli: “Ghey.”

Marc Faber: “Totally ghey.”

Abby Joseph Cohen: “Gheyer than even me.”

So there you have it. I’m inclined to agree with my esteemed colleagues, and now that we’re actually in December, the month possessed by St. Nick himself, I’d like to point out the breakout of the MidCaps has failed spectacularly: (more…)

Oil Slick

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Further to my post of November 4th, WTI Crude Oil has pierced through its next major support level of 64.50, as shown on the following Weekly chart. Also, we now have a bearish Death Cross formation on this timeframe.

Oil has been in free fall since the beginning of October. The next major support level is 50.00. However, as I mentioned in the aforementioned post, price may pop up to retest the moving average cross-over level, which is now sitting around 95.00ish, before it plunges again…although, it may have a tough time rallying above, what is now major resistance, at 75.00.

The Week After Thanksgiving

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Thanksgiving week is typically bullish, but the week after is not. The chart below from SentimenTrader shows this very well and the stats for today are obviously bearish.

141201 holiday_thanksgiving

My friend Cobra from www.cobrasmarketview.com adds that Mondays have been down 8 of the last 12, and that the first trading day of the month, for a long time a fairly automatic green close, has now been down 9 of the last 12. Altogether the historical stats are weighing in heavily against the bulls today: (more…)