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.
Today was the most profitable day I’ve had in a long time……….at least a year, I think…………and “stay the course” doesn’t make for very compelling content. But I’m going to try………
I will state that I remain very short the market, highly concentrated in commodities and energy. Yes, I took a few positions off the table to take profits, but in all sincerity, I probably should have just kept those as well. I also added a dozen new positions. All 90 – yes, 90 – of these are short positions, but I do have 3 longs – – – Japanese Yen (FXY), the Euro (FXE), and gold (GLD). These currency positions are ten times as big as any of my equity positions. Here’s the Yen, for instance, which seems, shall we say, primed for a bounce:
As I write this post around 10:45 am ET on Monday, January 5th, Canada’s TSX Index has plunged by 310 pts., as shown on the following Daily chart.
A hold below the 50 MA (a bearish Death Cross formed awhile ago and was retested twice) could see price drop to retest the double bottom around 13,650, or lower. Watch for a bearish crossover to form on the MACD and for a drop and hold below the zero level to confirm such a scenario. (more…)
I must say, I didn’t understand the feelings of betrayal. But last week, when I completely by accident saw an image of Elon Musk from 15 years ago with most of his hair gone, I was confused and a little peeved. Authenticity is important to me. And here’s a guy who prances around the world playing the part of handsome multi-billionaire, when in fact he has paid to cover up the truth. The truth of………..male pattern baldness!
Look, I know this sounds superficial, particularly since your humble narrator, even in his advanced years, has an oh-so-full head of hair. But I have a lot more respect for zillionaires like Jeff Bezos who could really give two craps what people think of his appearance (or, even more extreme, Steve Ballmer!). But that’s neither here nor there……….I’ve been bearish on Tesla for months now (which has caused me to be the subject of derision on the Interwebz, to which I am most accustomed), and this stock is really starting to fall to pieces, having lost about 30% already. (more…)
I have put a chart of crude oil below because it speaks more loudly than anything else about the shitstorm that will soon engulf the world economy. I have included an image of Sherilyn Fenn because…………well…………..OK, I don’t need a reason. It’s my blog. I do what I want.
From Strawberry Blonde: My Weekly chart of EUR/USD shows major support at 1.19 and major resistance at 1.2125. The recent bearish Death Cross on this timeframe suggests further weakness to come…look out below 1.19, imho.