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.
Greetings from the Starbucks on the Google campus, which is cram-packed with people and laptops (these aren’t Google employees, naturally; just slobs like me; I hang out here a lot because there’s a Tesla supercharger here, and I can suck down all the electricity I want for free).
Anyway, when I saw all the chatter about how Keurig Green Mountain was getting its balls blown off after-hours, I was reminded of a post I did way back in November. The post relayed the news that, at long last, famed hedge fund manager David Einhorn was throwing in the towel on his GMCR short position. Here’s a snippet from that post:
“Just an update for you, some disturbing news has leaked out this week. Machine tool builders have put out blow out [lists] to all sales persons in the USA, not sure if world wide. Mori Seiki list has 600 to 700 machines on it WOW!!! never have i heard of such a huge list by any one Builder. Not sure what they see coming but it can’t be good.”
My comment from that post: “Mori is a big builder and when the big builders start blowing out it goes right down the food chain.”
Looking at the 60min chart we are seeing it failing to hold as either support or resistance this week. SPX is making lower highs and higher lows. I’m thinking that SPX is forming a large triangle here, and I think that there may well be a smaller triangle formed within that triangle. SPX 60min chart: