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.

Senior Prom

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Since I have absolutely nothing new to say about the markets, I just thought I’d close out the day to briefly comment on the remarkable event at the end of Yellen’s speech, which many Slopers watched live and commented upon in this post. The speech itself wasn’t particularly exciting (to put it kindly), and Yellen actually has an oddly soothing voice which was lulling most of us into a gentle sleep. Very near the end of the speech, it was clear something was wrong. I thought she was missing the last page of her speech, or she had become very, very lost, and watching this real time, it was pretty surreal…….

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Awaiting Granny

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It seems people are really, really hung up on the fact that our Chief Oatmeal¬†Cookie¬†Baker is making a speech this afternoon. What’s she going to say? That she’s awaiting more data? That they’ll lift rates when it’s appropriate? Listen, people, they are never going to raise rates, and if the market gods smile upon me, her effect on the market will be little different than it was one week ago today, when she did her usual blather which sent the Dow into a 1,000 point tailspin. Look, I’m sure she’s a nice old lady. It’s just too bad she gets all this attention.

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As for myself, I lightened up today (down from 170% committed to 125%, and down from 117 positions to just 88 shorts). I intend to crank it up ungodly aggressively next week. It was a good day overall, my portfolio pushing up 0.93% versus the overall market being down 0.29%.

The Bear Is Strong In This One

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SPX only made the 23.6% fib retracement of the falling wedge that broke up yesterday, forming a bear pennant/triangle from the falling wedge low that has broken down this morning. This kind of retracement is indicative of a strong trending move and suggests also that the falling wedge is evolving into a larger pattern, which I am cautiously assuming is a larger falling wedge.

If so then falling wedge is in the 1907 area at the time of writing, and declining at about 14 handles per day. If hit this morning that would coincide with decent support in the 1903-11 range and we might well see a strong bounce there.

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