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.
Monday, Monday, so good to me
Monday morning, it was all I hoped it would be
Oh, Monday morning, Monday morning couldn’t guarantee
That Monday evening, you would still be here with me
Monday, Monday, can’t trust that day
Monday, Monday, sometimes it just turns out that way
Oh, Monday morning, you gave me no warning of what was to be
Oh, Monday, Monday, how could you leave and not take me?
Every other day, every other day
Every other day of the week is fine, yeah
But whenever Monday comes
But whenever Monday comes
You can find me crying all of the time
Readers of Slope and viewers of my show on Tastytrade know I have two obsessions these days: (a) the horizontal support on the $COMP (which is almost guaranteed to be shattered at the opening bell) and (b) the midline on the ascending ES channel.
It was really cool to see the ES crash more than 40 points early on, but it’s no surprise we’ve shaved off a quarter of those losses already (six years of BTFD is still in place, folks). It’s interesting to know where all the action is, though – – in the lower half of the channel. I have NO CLUE where things will be in the morning, but at this moment, the chart makes abundant “sense” considering price action relative to the midline.
O my God, I trust in thee: let me not be ashamed, let not my enemies triumph over me
Well, the past 48 hours have been absolutely riveting (I am typing this early Sunday afternoon). I’ve been following every little tidbit of news flowing out of Europe. Six horrible years brought upon by the Anti-Christ (Yellen) and her global henchmen in Europe, Japan, and China have kept me paranoid and cynical so that I still figure anything is possible with respect to a sudden stick-save. All the same, the possibility of some serious downside action on Monday is electrifying. We’ll see how it pans out, of course. As I’m typing this, the Globex isn’t going to open for 75 minutes, but the earliest signals from EUR/USD are definitely pointing lower………
I’m not going to tempt the market gods by gloating, though. Naysayers and bear-haters have been victorious for all these years, and they seem stone-cold certain that nothing is going to be different. Here’s the chap who sneeringly called my good trades “occasional winners” (which has become a permanent meme around here) and his take on things as of Friday: