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.
Apologies for the very late post again today. Wednesday is my biggest charting night of the week at theartofchart.net and I was up until 4am. When I get to my desk every morning I also review and publish charts on currently nineteen different futures and forex pairs with a premarket video looking at any changes of interest on each. Even though I live to chart I tend to get a bit tired on Thursdays.
There’s a running trader’s joke about types of days that can set up in the morning and then play out over the rest of the trading day. It’s like a movie when you watch the first part and you have a pretty good idea how the rest plays out. Some tape movies, such as Buy The Dip movies are very common, but today’s was a rarer variety that I have christened the Vee Movie.
I am relieved to say I was not among them…………lifetime high with a P/E of 44…….
Most of you already know of my fondness for energy shorts. Here are a couple of leveraged bearish funds (thus, longs) that got beat up badly lately which I believe are ready to reverse into new highs for the year (Allah willing). Here’s the one I’m presently long:
Long Teradyne (TER)
Just for a bit of perspective…………
“Short Now And Profit“ – a sneering takedown of SNAP’s IPO, stating, and I quote, “everything – – everything!! – – about this company screams “ridiculous overvalued bubble”, including, but not limited to, Evan Spiegel’s smug little cleft-chinned face on every magazine cover” and I conclude “Next stop: the teens.”
“Snap, Crackle, and Proof” – a much kinder, gentler examination of the Snap organization, about which I speculate “probably owns the world’s largest collection of child pornography”
Highly-paid Wall Street analysts, however, had a different take on this, umm, “investment”, as expressed by their buy/sell/hold recommendations on SNAP:
So, yeah – – 30 of them with a “Buy” or “Hold” and 4………count ’em, 4………with a “Sell”.
Let’s see at the close of trading today whose opinion was right.