Not that American cars suck or anything………anyway, I’m already short Ford as well as a bunch of auto-related product companies. Down, baby!
Slope of Hope Blog Posts
This is the heart and soul of the web site. Here we have literally tens of thousands of posts dating back over a decade. These are listed in reverse chronological order. You can also click on any category icon to see posts tagged with that particular category.
I put this chart together before oil fell apart, so you can rest assured commodities are now officially screwed…..
I did a post on Tuesday morning about Apple in which I stated, in part, “ the “pulses” higher….are, to any observer, shrinking with power.”
I happened to stumble across a comment in the post that followed by someone who apparently wanted to put me in my place since, you know, I have no clue about charts…….. (more…)
If there’s one thing that SPX has been really good at over the last year or so, it is pausing at highs, and one of the best ways to really kill time at highs is to form triangles. The obvious read on SPX here is that a triangle formed from the all time high nine weeks ago, and that broke up at the start of last week into another smaller triangle that is forming from last week’s high.
The obvious read on this current smaller triangle is that it is bullish into the ATH retest that we have come close to a couple of times but not seen as yet. Given though that this triangle has formed on the break of the larger triangle, there is a decent bear scenario here where SPX breaks down from this triangle in a backtest into the larger triangle, before a triangle thrust up that at least delivers that ATH retest. If the bear scenario is going to play out then the first signs would be breaks of rising channel support and the 50 hour MA, currently at 2386 and 2384 respectively, and the target should be at least a backtest of broken triangle resistance, currently in the 2360 area. (more…)
I know that shorting Amazon has been a fool’s game for, what, about eight years straight now – – but the risk/reward ratio is awfully tempting. I’m going to give it a shot with a $955 stop.
Long Suntrust Banks (STI)
Well, the utterly-retarded ascendency of semiconductor stocks has come to an end at last. AMD has lost nearly one-fifth of its entire market cap within a span of minutes, and five months of price gains have been laid waste. My kinda market.