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.

Sound as a Dollar

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Back on May 3rd, I did a Slope Plus post suggesting going long the US dollar. As I phrased it at the time: “The Yen and Euro have been very strong in recent months. I believe this is about to turn, and thus I am banking on a strengthening dollar. There are plenty of ways to play this (short the Euro, short the Yen, etc.) but I’m going to use the lame-o, thinly-traded UUP.”

Well, let’s take a fresh look at the charts. Shorting the Yen has gone pretty well, and there doesn’t seem to be much in the way of support, so this probably is a good “hold”:

0524-FXY

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Resumption of Strength

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The up/down/up/down market remains fully in place, it seems. After a brief bout of weakness yesterday, sure enough, the market recovered last night, and we’re mashed right up against that descending blue trendline which has proved to be a mildly important level of support and resistance in recent history. It would take a break above that higher blue trendline for the bulls to start to capture some sustainable momentum.

0524-es

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