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.

Eye on Shanghai vs SPX Chart

By -

After the Shanghai Composite’s July 9 low, the Chinese government enjoyed some brief success, managing to goose the index from 3587 to 4185, or by nearly 17% — until today, that is. The index melted down nearly 9%, closing on the lows, and has the right look of the initiation of a new down-leg within the still-dominant near-term downtrend.

Meanwhile, the S&P 500 remains within its 6-month sideways range, although the price structure once again is approaching a test of key support in and around its up-sloping 200-Day EMA, now at 2060/56. That level must contain any forthcoming weakness to avert a press to 2010-1980 thereafter–within an increasingly-toppy medium-term pattern.

full-d42d582e67325109702815b8b582dfdbda7a9ca9Originally published on MPTrader.com.

What Do You Get?

By -

Today was terrific – except for one thing: my long positions.

After Friday’s success with gold, I decided to get cute and buy miners, as well as some oil producers, and even some oil. Almost without exception, every one a loser, and in the end, nothing more than a substantial tax on my marvelous bearish profits.

And in my head I can only think of one song – – shown below – – whose lyrics I have renamed “I’ll never buy a stock again………”