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.

Credo

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The world has been rewarding cynics like myself lately.

I thought the North Korean peace deal that everyone was hailing – – and suggesting Trump be given the Nobel Peace Prize – – would amount to nothing. We’re well on our way there. It’s a complete zero.

I believed the fakery of the past nine years would end in tears and catastrophe. We are on page 7 of a 500 page novel of that catastrophe. This is just the beginning.

And, much shorter term, I offered up the following prediction at the beginning of this month in this post.

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Jerome ‘Dead Eye’ Powell

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One of the most disturbing scenes in the series Breaking Bad was when Todd shoots and kills a boy on a dirt bike after he witnessed Heisenberg, Jesse and Todd heist 900 gallons of methylamine. Jesse: “Todd, that Opie Dead Eyed piece of shit…”

That is similar to the feeling I got after the Fed hiked the funds rate as expected, but then declined to offer the stock market much relief for its ongoing temper tantrum.

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Computer Woes

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Hey, Slopers – – sorry to be AWOL on you, but I’m dealing with some mombo computer troubles. This is where nearly 40 years of experience comes in handy, because this one is a doozy (nothing to do with Slope; just my own machines). Anyway, I’m missing out on trading, but at least there’s absolutely nothing going on in the markets (cough cough cough).

Big Support Breaks

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After repeated tests where it held, the thrust down after the Fed hike on Wednesday broke down through the big support level and potential H&S neckline in the 2530-40 SPX area  and continued down. Wednesday night I was looking at the next big level on ES 2465-80 area and that too has broken yesterday. I’d be surprised not to see a strong counter-trend rally on SPX soon but it’s getting harder to identify where the next decent support might be.

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