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.

Montezuma’s Revenge

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I have poo-poo’d (so to speak) Chipotle Mexican Grill many times here on Slope, and my argument is always the same: why should the corporate purveyor of mediocre Mexican fare thrive by charging 50% more than all the terrific mom ‘n’ pop Mex places that serve much better food? It’s always baffled me.

The last time I talked about this, I received a mildly racist tweet implying that – – to paraphrase the person contacting me – – the products from the dirty Mexican joints were unfit for human consumption. Well, now that Chipotle’s e. coli outbreak had shuttered places all over the Pacific Northwest, I’m even more content to enjoy the fabulous, inexpensive fare at my local Los Gallos, thank you very much. Another burrito al pastor, por favor!

1101-CMG

The First Day of November

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Today should be interesting. It is the only cycle trend day this week, which means that there are 70% odds that trading will be dominated by either buyers or sellers. That can mean a trend day but often won’t be a full trend day. That could very much go either way based on the closing setup on Friday, where the SPX close was at a test of rising wedge support. Bears have missed the opportunity so far to gap below wedge support at the open, and if we see a strong move up today then rising wedge resistance is currently in the 2115 area. Equally if rising wedge support breaks this morning this market looks ready to test the 2060 area next. SPX 60min chart:

151031 SPX 60min

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