Does the market seem dull to you? It’s not your imagination. Just take a look at the volume of the SPY. We have gone from an organic, price-discovering market to one which just goes up half a percent, day after day, based on “trade talk optimism”. Apparently volume isn’t necessary:(more…)
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.
Two biotechs and one technology stock top our list of charts to watch with strong technical momentum.
ChemoCentryx, Inc. (CCXI) gained 39 cents to $14.47 on 643,300 shares Wednesday, following through on Tuesday’s gains. The biopharmaceutical company, which is developing medications for inflammatory and autoimmune diseases and cancer, announced Tuesday it will be presenting at the H.C. Wainwright Global Life Sciences Conference on April 8. The stock is now up over 40% in the last four weeks since the company released earnings that beat Wall Street expectations, and is now approaching a resistance level and initial target at around $15. A break through there could lead to $17.
Over the past seven years, I’ve written many positive things about Tesla. There is an entire subculture, however, which actually despises the company and, even moreso, its leader, Elon Musk (I almost typed “founder”, but as Jobs did with Pixar, he didn’t actually start the place – – he just bought it when it was cheap and going nowhere).
Anyway, there are plenty of concepts and people I have no trouble bashing, but I’ve never joined the TSLA hate-fest. Those who have, however, are probably delighted at this morning’s pre-market action:(more…)