I’ve been a fan of short positions for retailers, as well as the ETF (symbol XRT), but there’s one in particular I’d like to point out as my favorite: Williams-Sonoma. Here’s the chart:
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.
Auto Crash
In case you missed it, please be sure to leave House Safari a good review, as described in the last post. But I wanted to move on to charts, so……….
A few weeks ago, I made a big stink about how any symbol with the word “automobile” in it was shortable (as well as the biggies like General Motors and Ford……….basically anything to do with cars). This bearishness on a particular sector is finally starting to work out. Here are a few examples from today’s trading action.
A Plea for Reviews
Look, I’m not above begging, so here goes:
House Safari has been garnering plenty of users and usage (as well as a nice write-up), but hardly anyone has left a review. In the App Store, getting reviews is kind of the difference between life and death, and unfortunately my pool of beta testers can’t post reviews.
I’d therefore like to ask you good people (and, c’mon, I ask for so little) to take the time to
(1) download House Safari (which is an iPhone app) if you haven’t already by going here
(2) leave it a positive review in the App Store by clicking this link.
It’ll only take a few moments, and after doing this blog for nearly twelve years now, I’d like to think I could ask for a small favor from time to time. Thank you.
Back On The Three Day Rule
Yesterday’s close was a break back over the 5dma, so SPX is back on the three day rule. In the event that SPX closes more than two handles below the 5dma today or tomorrow, then the 2114 low would very likely be retested shortly afterwards.
One thing that’s very interesting on this chart below is the support/resistance zone highlighted in yellow. Since the start of 2015 that has held an impressive 14 short term highs and we could be looking at the second low since it was broken.
The Month of Trade Prior to a Presidential Election Since 1992
Due to some of the speculation around the slope about the effects of an election on the market, I decided to look at the last 20 years of elections. They’re a pretty mixed bag among the lot. Some were steadily uptrending the month prior, some were in choppy ranges, and some sold off for a couple weeks and rallied right back.
I sum it up to useless data. No edge there. Carry on as if wasn’t happening.
