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.
I get emails from Slopers around the world every day of the year. Some of them stand out as particularly erudite or insightful, and the one below is one of them. The writer kindly gave me permission to share his email anonymously with all my readers (the boldface emphasis is my own):
One of the posts over the last few years, that really resonated with me was the one where you refused to make money on the long side of the market which you felt was “dishonest”. I thought that the post was so powerful that I stood up in applause on my work station. And I would have written commending you on the post had I not been neck deep in shit at that moment.
It wasn’t that long ago that I hated the stock market. Nothing seemed to work, and technical analysis seemed to have gone the way of the buggy whip with respect to utility. Now that QE is well behind us (for now, at least), we’ve got a two-way market, and charts are behaving a lot better, even with the mayhem we witnessed over the past few days.
Take XLV, for example, which is the healthcare ETF. It roared higher after yesterday’s collapse, but it is, as I am typing this, daintily perched just beneath its gap. The distribution above above that gap is our ally, and just about every index and ETF I am looking at has some version of this top (with two or three key resistance levels, each one more formidable than the one beneath).
Well, the day following one of the most vicious market routs in history, MarketWatch has wasted no time in encouraging people to jump right back in:
And, just in case you need something specific, here’s this none-too-subtle hint:
I’m all for this kind of mass-media sheep-cheerleading nonsense. Buy, buy, buy! I need higher prices for shorting!