Here’s today’s swing-trading watch-list:
Long Freeport-McMoRan (FCX)
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.
CoCo no MoMo
I have been railing against for-profit colleges here on Slope for years, beginning with this post back in August 2010 about Corinthian Colleges. I’m hard-pressed to think of any business more cynical that these for-profit outfits, since their formula has been:
- Advertise their services to the desperate;
- Get government loans to fund their sky-high tuitions;
- Have the students go through their program, get a diploma, and still fail to get a decent job (since a Heald diploma may well be more a liability than an asset to a job-seeker);
- Stand aside unharmed as the student defaults and you, dear reader, are left holding the bag
Applied Immaterials
This morning’s occasional winner is Applied Materials, which I went ahead and covered this morning. I’m going to stand aside and wouldn’t short it again unless it recovered to about 21.70 or thereabouts. Of course, there’s only one company that matters anyway: Apple, which reports this afternoon and upon which all bullish hopes depend.
Pushing Up From The Triangle
SPX made the second day of a daily upper band ride on Friday, and might do a third today. Until demonstrated otherwise though I’m leaning towards seeing a decent retracement in the near future. Short term rising channel support is in the 2124-8 area today, and if we should then see a retracement to channel support, that is currently just under the daily middle band in the 2085-90 area. SPX daily chart:
