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.
I was quite enamored for a while with O’Reilly Auto Parts (symbol ORLY) as a short. In that magenta-tinted area below, you can see a wonderful topping pattern. And, as it’s supposed to, the price fell tremendously. Then it climbed……..and climbed……..and climbed. And, frankly, violated its pattern so massively that I almost totally lost interest.
More recently, however, there’s been a smaller top (cyan tint), and I shorted this last week. So far, so good. ORLY’s past behavior makes me skeptical about how well this will go, but for the moment, it’s a pretty clean setup (and, as before, I remain stunned how a company that has hundreds of retail stores selling auto parts and cans of motor oil can be this highly-valued). (more…)
Stan and I are doing our monthly free public Chart Chat on Sunday, and on Thursday after the close will be doing our monthly free public review of the Big Five and Sectors. If you’d like to register for either or both you can do that on our April Free Webinars page.
In our Sunday Chart Chat I was looking at an attractive scenario for this week where ES/SPX would make a higher high this week to complete a possible IHS forming, break up slightly from that and then fail back into a minimum target at last week’s low at 2553.80, also the target on the Three Day Rule triggered by Friday’s clear break back below the 5dma on SPX.
What is a Janus Flag? It is a bull or bear flag that looks like a reversal pattern forming, breaks up (or down) and then rejects hard into a retest of the previous low (or high). (more…)
I don’t normally make a post that simply references someone else’s writing, but I am going to do so in this case. I stumbled across this article, which addresses something I’ve always found really curious – – that is, why cryptocurrencies peaked PRECISELY when futures on them started trading.
Here’s a short I’ve got that I don’t think I’ve ever shared before…….