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.
Just a few days ago, I did a post for my Gold and Diamond subscribers called Broken Axle, in which I pointed out the powerfully bearish pattern exhibited by American Axle and Manufacturing (I have unprotected the page so everyone can see the original post). Here’s what it looked like:
OK, so let’s just take a deep breath, step back, and assess the situation:
The United States has, for many months, been ratcheting up a trade war with China;
All attempts in the past for the two sides to get together and hammer out a deal have been comically similar: lots of warm feelings, positive talk, encouraging press releases, and then…………nothing…………..followed by more tariff increases;
Over a span of three weeks in October, worldwide equity markets took a beating, freaking out heads of state whose constituents had become addicted to soaring equity prices;
During this week, the United States Government has frantically been creating reasons for people to get into stocks again including, cynically, seeking to dismantling some of the last regulations around the bank industry (since the poor dears have such a hard time of it);
At the same time, Trump appears almost assured of losing power in the House of Representatives, so………
Out of the clear blue sky, he announces that trade talks are going well, and that he’s not just going to meet briefly with Xi on November 30 but instead will meet AND have dinner with him (because God knows there’s no more appealing offer than the opportunity to watch Donald Trump eat);
Thus, even with a complete catastrophe at AAPL, worldwide equity markets exploded higher in the middle of the night.