The triple-bearish-on-energy fund DRIP has lost a lot of ground in the past month or so, but looking at the Bollinger Bands in SlopeCharts (as well as the supporting trendline), it seems like an opportune place for it to find strength.
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.
Post Twenty Thousand
This is the twenty-thousandth post on the Slope of Hope. Earth decided not to make a big splash about this momentous occasion, because as I sit here on this pitch-black predawn, the ordinariness of the news is striking:
- Another provocative missile launch from North Korea – – the 15th this year – – which is drawing yawns and eye-rolls from traders the world over;
- Another terrorist attack (I suspect the Amish), this one in London;
- Equity markets floating near the highest levels in human history.
How much more fitting it might have been for the Dow to have fallen, say, 2000 points the day before, just to put a spring in our collective stride? (more…)
Learning the ABCs
They say the hardest trade is the best trade………and the hardest trade to do these days is to short a stock. There hasn’t been even a 5% correction in the market for nearly two years now (incredible, isn’t it?) so it seems the only sensible thing to do is buy TSLA and go to sleep.
I just have to be different, though, so I’ve got sixty short positions. I wanted to share my favorites, but I didn’t get past the first three letters of the alphabet without ample enough to show. So here they are……..(late breaking news: yet AGAIN, the chubby, hairless juchebag – – that’s my term, which I just made up, and yes, it’s brilliant – – has supposedly launched a missile………by the time you read this, who knows, the ES may be green again).
Waiting Again
It’s been a generally dull week, and since the bull flag on SPX made target with a new all time high there hasn’t been much movement in either direction. We are still ideally looking for another leg up into the 2509 area but the setup for that last leg up is starting to sour slightly, with hourly sell signals already fixed on ES and the SPX RSI 5. The move should really be in the next couple of days if we are going to see it without a significant retracement first. SPX 60min chart:
