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.

Mille Grazie!

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Wow, the Slope saved me yesterday!

When UVXY was grinding along at lifetime lows, I thought, what the heck, I’ll give this a whirl. I had never bought this supercharged volatility ETF before.

I bought it, and it sank a little. I rolled my eyes and moved on with my day. But then it started firming up, and then profits just soared. The chart below tells the whole story. I excitedly put a message in the comments section.  Dollar and InflationBomb splashed cold water on my face. And I decided to heed their counsel, seize the easy profit, and run (the green area shows approximately my holding area). I was nervous Greece might surprise us (HA HA HA!) but figured better safe than sorry.

0715-mille

You can, umm, kind of see what happened afterward. “Widow Maker” indeed.

Some people think the comments section can be noise, or even deleterious, to good trading. I personally like to hear what other people have to say, and once in a blue moon, I actually get it through my thick skull to listen! Thanks, guys.

Inflection Point Test

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On Tuesday last week I put forward a favored scenario for a strong rally that would make a high in the 2115-20 area. The following day I noted the strong daily buy signal that had fixed, and on the Thursday I called the double bottom with a target at 2123. Looking at ES that 2123 target may be made at or near the open today.

Quite a few of you will have read those posts as SPX was testing the 2040s, and those of you that didn’t think that I was having bullish delusions most likely thought that was a credible bearish scenario. Fast forward to today and almost everyone is seeing this as a bullish breakout that will likely result in new highs. That was always a possibility of course, but has anything actually changed in the interim apart from the big rally that I predicted having now happened? I drew the arrows on the daily chart below on Wednesday last week and as you can see, SPX is pretty much where I was expecting then. SPX daily chart:

150716 SPX Daily Patterns BBs MAs

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Ciao!

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Most of you have probably gathered I’m not big on vacations. If I had committed some ghastly crime and was sentenced to spend the rest of eternity working from home, forbidden to leave the town limits of Palo Alto, I actually would have no problem with that. Indeed, I’d like to know the crime in question, just so I can enjoy committing it and then bask in the glow of a supposedly Draconian sentence.

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