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.

Dream a Little Dream

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Friday morning provides us the monthly jobs report, and of course there is no telling what it’ll say or, more importantly, how the market will react (or, even MORE importantly, how the market will react by the end of the day………..since these days early morning activity appears to have almost no sway over where things finally wind up).

If I may indulge in the absurd fantasy that we’ll actually get a break lower in the market, I wanted to provide some key support levels which, if breached, which signify that the endless nightmare for the ursine set may well be at an end. Here are the indexes in question:

0901-indu (more…)

Dow Composite Channel

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It may surprise you to know that the Dow Jone Composites peaked about six weeks ago, particularly since lifetime highs on other major indexes were the norm until a few days ago. This is a crucial junction, since we’ve traveled back to the channel which used to be its confinement until it broke out early in July. A big drop Friday (unemployment report day) would finally turn things clearly bearish.

0901-comp

GD MF SOAB

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Perhaps some of you might think this post’s title represents equity symbols, much in the same way our friend Ryan Mallory offers. Nope. They are the initials spelling out the completely pissed-off obscenities that are bouncing around in my head.

Today is just like yesterday in three respects. ONE, equities dropped hard, pushing up my profit tremendously. TWO, Yellen & Company rushed in to prop up the market yet again, bidding up prices, smashing my profits down. And THREE, oil is completely saving my ass (and my profits). But because of #2 (a digit that often leaps to mind when thinking of Janet Yellen), my profit is a shadow of its former self. Again, just like yesterday.

I’m ready to choke somebody to death.

0901-es

My Friend the Trend

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Well, the completely-fake, utterly-made-up Chinese economic “data” was released yesterday evening (my time), and the ES liked what it saw. It was up about 8 points or so when I went to bed. As of now, it’s down double digits, since maybe people are figuring out that Communists dictatorships will dream up figures month after month to keep themselves in power, and maybe reality isn’t what is being stated.

More important than that to me is crude oil, which continues to be a better arbiter of The Truth than Chinese bureaucrats. Keep falling, fellas. (I took this snapshot before the opening bell; crude is even farther down than it was……..)

0901-crude