Well, it’s been awhile since I’ve made you aware of a real estate offering in my fair city, so I present you now with 221 Santa Rita Avenue here in Palo Alto. For the low price of $3.4 million (well, that’s the ask – – it’ll surely go for a lot more with many offers) you can call this place your own personal palace:
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The last three day’s candle pattern on WTIC Crude Oil could very end up being a “Three White Soldiers” pattern, which is, technically, bullish [Definition (courtesy of StockCharts.com): “Three White Soldiers: A bullish reversal pattern consisting of three consecutive white bodies, each with a higher close. Each should open within the previous body and the close should be near the high of the day.”]
“Three White Soldiers” candle pattern
I gotta tell ya, this sort of thing turns my stomach:
Well, the month of August 2015 is history now, and what an insane month it was. I ended it on a good note – – a nice profit today – – and I am once again aggressively positioned on the short side (having built up my positions from merely 48, on Wednesday, to a full 106 today). Broadly speaking, I am positioned for a diminishment in crude from present levels as well as general equity softness, by and large, all the way through the September 17th anti-Christ press conference.
Let us bid August adieu with one of the sweetest voices there ever was:
Crude oil’s long bear market has been met with a ferocious counter-trend rally. I can’t say precisely when it’ll stop, but I am highly confident this is going to re-sink soon (not necessarily to new lows, but certainly carving away most of this rally).
Stan and I were looking carefully at the current setup on SPX in yesterday’s chart chat and you can see the recording of that here. Short term SPX and the rest of my optic run indices are still in the same inflection point that they were in on Friday morning, waiting for a break either way.
If that break is upwards then the very obvious target is the 2030 area, at the retest of broken channel support, the target for the retrace of the triangle from two weeks ago, and not far below the SPX double bottom target at 2041.
Greetings from my mother in law’s ancient Macintosh, where I try to expunge my blogger’s guilt by doing a quick comment cleaner. I see the ES and NQ plummeting lower, proving once again that all my worries about the central banking morons at Jackson Hole was, as usual, pointless, feeble, and pretty much ghey. Shame on me. It was a horror in 2010, and I will remain deeply scarred until my dying day. Death to Bernanke! Slowly!
But my 81 shorts will, barring some bizarre reversal, be shining in the morning, and unlike last Sunday, I don’t have a single stinking long in my entire portfolio. I’m delighted that Jackson Hole is behind us, and as far as I am concerned, it’s going to be clear sailing until the anti-Christ (Janet Yellen, in case you haven’t figured that out already) does her stupid announcement on Thursday, September 17th. I will shoot all bulls on sight until that day.