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.
Greetings from California Barber Shop, where for $17 you can get the best haircut in town if you are willing to wait literally two to three hours for your turn. This place is totally old school, and in spite of its popularity, the two Cambodian chaps who cut hair here move along at the same snail’s pace they always have. Paradoxically, their slowness (and care) is what keeps people like me coming back. It’s the one pampering in my life I allow myself. And it’s all of seventeen bucks.
The downside, of course, is that I’ve been here for nearly two hours, and I’m still not in the barber’s chair. So, resourceful chap that I am, I found a Dell CrapBot 9000 ghetto laptop in my trunk and am cranking out a post for my beloved Slopers. This blog does not rest.
Simply stated, I am aggressively short, with an increase in my exposure on the short side today in the precious metals and energy sectors. That may seem odd, given their strength, but I’m a contrarian, after all.
Well, it’s pretty obvious, I’m a Boy Scout at heart, and the moment my hair is 1/4″ over my ears, my haircut is way overdue. So I’m off to go get lovely again, but I promise a market-oriented post later today once I’m back. In the meantime, talk amongst yerselves.
Grant Williams, who is an extraordinary writer, blogger, and thinker, was kind enough to invite me to coffee when he was visiting Palo Alto a few months ago. He told me about a new venture he was launching called Real Vision TV, which is now live and you can visit by clicking here. My shorthand way of describing it would be “ZeroHedge, televised”, but probably with a good dose less tin-foil-hat and lunatic comments. It’s unique, thought-provoking, and gaining a lot of momentum (plus, I’m honored that they wanted my own contributions with some charting videos). Be sure to check it out; it’s one of the coolest things to happen in finance media in ages……..(and they got a lot of attention with their recent Albert Edwards interview):
I posted the chart below on twitter last night to show that the channel support that I posted as a target on Monday morning was tested at the close. I was concerned by that test being on the low ticks of the day, and we’ll have to see whether that holds this morning. On my main scenario we see a strong bounce from that support into new highs, very possibly this week. If we were to see a hard break down then I’d be looking for a very possible gap under channel support at the open today and at the moment at least, that seems unlikely. SPX 5min chart: