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.

Bullet Doddged

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The Tim of years ago would probably never have believed that he supported and applauded anything that Democrats were doing, but………he is. As I’ve mentioned in the past, I am living my political life backwards. The old saying, “If you’re young and conservative, you have no heart, and if you’re old and liberal, you have no brain” speaks to the normal, assumed political path of American citizens: you start off a hippie-dippie left-winger and, through the years, become a curmudgeonly radical-right conservative.

I’m doing it precisely the opposite way: as a teenager, I had a terrifyingly laissez-faire, dog-eat-dog, every-man-for-himself attitude. I was a hard-core libertarian (and, deep down, probably still am) and saw all Democrats as welfare-loving, tax-and-spending, union-worshipping socialists.

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Bullish on WalMart

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A Sloper was kind enough to send me the following idea this morning, which I wanted to share:

Walmart is benefitting from 2 major events:

1. The recent significant drop in gasoline prices (50+%) helps the low income segment of the population the most since they spend most of their income on the basics. Less fuel expenses leaves more for other things. Some of this goes to Walmart.

2. The strong dollar lowers the costs to importers and reduces the income of exporters. Walmart is a big importer.

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Golden Opportunities

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I had an intermediate buy signal trigger on the gold miners a couple of days ago so here are some candleglance charts (that are optionable) showing some quick scribbles of what I mentally see on them when I look through them taking notes.  Some of them have already had some major moves, but there are still plenty of opportunities that are still basing.  But bear in mind that those charts that have already moved hold the strength vs their peers, so any pullbacks in the strong ones should be good long bets going forward. (click to enlarge). (more…)

Likely Breakaway Gap over Resistance

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This has been a strange week, particularly yesterday, but direction should become clear this morning, and unless the bears can dominate the first hour enough to fill the (currently +17) opening gap, then that direction is likely to be up to pattern targets starting in the 2067 area.

The situation here is unusually complex, but I’ll break it down into the component parts to explain it. The bigger picture is of course the rising wedge from the 1820 low that broke down on Tuesday. Now the first thing I look for when a wedge like this breaks support is a topping pattern, generally either a double top or an H&S. I wasn’t looking for one here because there is already a very decent quality double top formed here, but it seems that we may well be about to retest the highs in order to form another (smaller) double top here as well, or (less likely in my view but worth bearing in mind) to break up from this rising wedge with a target somewhere in the (cough) 2350 – 2400 area. SPX 60min chart (more…)