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.
As a younger man, I truly believed that those individuals who didn’t have the drive and intellect to hack it in the world of free enterprise were relegated to low-paying, boring jobs in government. Whether city, state, or federal, I figured the dullest among us would wind up with a direct-deposit paycheck from some bureaucracy and just slum their lives away with a steady diet of paperwork, fast food, and watching tee-vee at night.
How wrong I was! The City of Palo Alto makes clear that it’s ME who is the moron and the clerks in city hall that are banking coin! What a fool I was.
And I know we’re all supposed to get misty-eyed at these “civil servants”, especially police officers and firefighters, who hang out at the station house risk their lives every day on our behalf, but I’m sorry, when a fuckin’ firefighter is getting a third of a million bucks a year, the world’s gone wrong.
We are starting our second Academy Trader Boot Camp tonight in a webinar an hour after the close. The feedback from the last one was very positive and if you’d like to see that then scroll down to the bottom of our Testimonials page to find those. If you’d like to take this very reasonably priced and high quality four week course on TA, risk management and trading methods, there are still places available and you can sign up for that here until the RTH close today.
I was concerned on Thursday that SPX would fail to do the obvious second leg down on the likely overall bull flag forming here, and in all likelihood SPX has now broken up from that bull flag. Confirmation that SPX is going up directly comes on a fill of the open island top gap from the mid-March high at 2752.01.
I’m leaning against another leg down here but if the bears are going to have (yet) another try at that, then first support is at the ES weekly pivot 2718.25 (same area on SPX), then a break of rising support from the mid-May low, now in the 2712 ES area. (more…)