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.
Dow Twenty Thousand. Dow Twenty Thousand. Yeah, yeah, I get it. Good God!
It seems almost pre-ordained at this point that the holy figure will be reached. Perpetually-suicidal James Altucher made a call for this level over half a decade ago, but if you hear him touting his “call”, I don’t think this will get mentioned. I actually like the guy’s writing quite a bit, but I strongly suspect his pulled this number out of his derriere when he offered it in 2011. Whatever the reason, it looks like it’s almost a sure thing, particularly with Yellen getting ready to wrap her lips around the microphone Wednesday afternoon.
It’s interesting to me how these big round numbers pan out. Sometimes they end in tears (except for the bears), such as the much-anticipated NASDAQ 5000 back in 2000 (two big round numbers together! It’s destiny). It finally, at long last, nailed its goal March 7th. On March freakin’ 10th, one of the biggest wipeouts in financial history got started.
The daily news about the forthcoming administration (particularly our new Secretary of State) reminded me of this Doonesbury from nearly a quarter century ago. Click on it for a bigger version, as always.
Some bouncy action at the open this morning but not so much on RUT. The next obvious target on RUT is at wedge support, and RUT looks likely to hit that today. What happens there we’ll have to see. RUT 60min chart:
I see over on ZH that we’re slated for our sixteenth lifetime high in the markets (post-election, obviously). One could understand the sentiment of the “investing” public just how easy this is:
- Put money into market.