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.
“Well, yes, this is just the sort of blinkered philistine pig-ignorance I’ve come to expect from you non-creative garbage. You sit there on your loathsome spotty behinds squeezing blackheads, not caring a tinker’s cuss for the struggling artist. You excrement! You whining hypocritical toadies with your colour TV sets and your Tony Jacklin golf clubs and your bleeding masonic secret handshakes. You wouldn’t let me join, would you, you blackballing bastards. Well I wouldn’t become a Freemason now if you went down on your lousy stinking knees and begged me!” – MPFC Architect Sketch
Earlier today, I saw in the comments section someone mentioned they were going to “BTFD” and that doing so for month after month was “boring”. Well, yeah, they were right (again), because the market…….for absolutely no reason at all………..chugged higher. I’m not feeling that grouchy about it since I’m so focused on energy shorts, and those took most of the sting out.
All the same, I think the kind of over-the-top arrogance which leads one to believe that they, in perpetuity, can simply buy any dip and profit later is yet another sign that the market is, shall we say, priced for perfection. I’m going to keep the words to a minimum and ask you to drink in these broad index charts and try to convince yourself that they are screaming “buy.” Here’s the Dow Jones Composite:
During the many years that I’ve been running Slope, readers from all corners of the earth have shipped me gifts, such as chocolates, wine, little statues, and so on. I find it very touching anyone would take the time or trouble, but Scott (Iguanodon) created for me a couple of real gems. First, there’s this puzzle:
Here’s your swing-trading watch-list:
Short AES Corp (AES)
Well here we are. The rising wedges from the February low on SPX, RUT and NDX have all broken down now, and today is the first trading day of the most historically bearish part of the year running through to the end of October. Most of this week leans bearish historically as well, apart from today, with Dow up 13 of the last 18. With Friday closing on multiple short term buy signals I’m looking for rally today and maybe tomorrow, and for the downtrend to resume after that. Tuesday and Wednesday are the cycle trend days this week and at least one of those should be a trend down.