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.
Here’s something I don’t do often – – offer up a long idea. Since I’m a contrarian at heart, this is a speculative one, battered for many, many months as part of the beleaguered energy sector. I present to you Bonanza Creek Energy:
Perhaps you’ve noticed I included volume in this chart, which is atypical. I did so deliberately, because the volume has been surging during the entire building of the base you see above. I think it’s an interesting pattern, and provided the stock stays above $7.02, it seems a very promising long position to me.
Here’s today’s swing-trading watch-list:
Short TripAdvisor (TRIP)
I don’t have any positive divergence here on the 60min or daily RSIs, apart from a slight divergence on the 60min RSI 5, but I have a lot on the 15min and 5min charts. I’m not looking for the main retracement low here, but SPX is very oversold short term and I’d expect to see a decent bounce shortly. That bounce may already have started. SPX 60min chart:
As I blearily grabbed the iPad from the side of my bed this morning, before I fired up the quotes, the most cynical part of myself thought: “Just watch. The ES will be green.” And, yep, sure enough, the market has rocketed about 25 points all night, because God knows there’s nothing more bullish for stocks than one of the biggest terrorist attacks of all time on a major Western city.