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Long Marriott Int’l (MAR)
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.
Peak Chesapeake
This energy sector rally over the past four weeks has become insane. Apparently driving your car at a high rate of speed in order to (very messily) kill yourself is good for the stock of the company you founded.
Following Up on Options
Well, things are still pretty damned grim for the bears. Even though the morning started off looking like we’d get a break, with the ES down 9 at the time, both crude oil and the small caps have hoisted everyone back into the green.
One notable exception is a stock I highlighted a few days ago for those considering buying put options – – Amazon (alongside this was Baidu). Both of these have stayed obediently beneath their resistance zones, and AMZN in particular is having a nice little tumble, even on a green-everywhere-else day like this one.
In any case, the market continues to be very disappointing for the bears (and I’m not even sure if I should be using the plural anymore; I’m probably the only one left) until all the excitement about forthcoming central bank intervention is past us. I remain annoyed.
Retracement Targets
I overslept this morning and am doing a quick post to get it out as close as possible to the open. For a more detailed view I’d suggest watching the recording of last night’s public Chart Chat at theartofchart.net, and you can see that on this page here.
There is now a very nicely formed rising wedge on the SPX chart, and the next obvious target within the wedge is wedge support, which closed the week in the 1975 area. For me that’s the obvious target today though there is some decent support above that may hold. I’d note that I do have a less well formed variant of this wedge where the wedge has already overthrown bearishly. SPX 15min chart:
