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.

ETF Walkabout

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As the post-“crash” recovery lurches to another high, the mainstream media and bulls are splooging left and right:


I am surprisingly nonplussed about the entire affair. I remain extraordinarily short, and although I covered some nice money-makers early this morning (WDC, MTW, STX) and had a couple of profitable intraday ETF trades (DIA, EEM, both on the short side, incredibly), I have simply held on to the vast majority of my individual shorts.

I wanted to share six ETFs tonight and my disposition toward each: short and sweet. First up is the triple-bearish-on-miners symbol DUST, on which I am bullish, as we appear to be heading toward a quadruple bottom:



The Red Pill or the (Reddy) Green Pill

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SPX made it to 1990 yesterday, within a handle of the full double top target and we may well see a bounce here. SPX, NDX and RUT have all formed decent patterns from the high and the falling wedge on SPX is breaking up at the open. The falling channels on NDX and RUT have not broken up yet.

This is a short term inflection point and either we see a bounce to retest the highs, and most likely fail into a larger decline, or we see a break of yesterday’s low and continue the decline. The best bear day would again be from an AM high and fail. The (short term) bull case is best expressed on the NQ chart, where the low yesterday established a very nice falling wedge from the late September low. This chart supports a retest high and fail as long as that wedge support holds.; NQ 60min chart:

151014 NQ 60min