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.
Today was by far my best day of 2019, thanks to Trump urinating all over the faces of the Chinese. That’ll go over well, I’m sure. Anyway, now that the China/US bridge is burned beyond recognition, things are getting interesting again. Below I’ve marked some potential bounce levels for a few cash indexes. I am still very short – 75 glorious positions – but, for obvious reasons, paranoia courses through my veins, although at this point the man’s mucked it up so bad I’m not sure how he’s going to un-paint himself out of this corner. Anyway, I’ve said a few words in the caption area.
Most of us would agree that there are few industries as despicable as pharmaceuticals. Price-gouging, price-fixing, collusion, bribes, you name it. They try to put a halo around their heads in the name of “helping” people, but there’s no entity more devious.
Heartening, then, it was to see virtually every state in the U.S. join a federal lawsuit slamming generic pharma companies – – and their senior executives!!! – – for price fixing. As the general population begins to suffer in the years ahead, the “Revenge Society” is going to amplify and spread out. This is a taste of what is it come. I’d say TEVA is hosed at this point.
On Thursday before I wrote my post SPX went a few handles below the daily 3sd lower band, and as I’d generally expect we saw a strong rally from there. On Friday, somewhat to my surprise SPX again went a few handles below the daily 3sd lower band, and we then saw an even stronger rally off that low. This morning, with the daily 3sd lower band currently at 2816, the current low of the day is a few handles lower and we’re probably going to see another rally, though it’s hard to say whether it will be as strong as the others.
First off, I want to apologize up, down, and sideways for the downtime this morning. I feel just terrible about it. Slope has been the victim of its own success. As we keep adding more features, and get more popular, we are getting kind of crushed by traffic. The servers just couldn’t handle it this morning and did everything but explode into flames. In any case, all is well now, and we’re going to be doing another upgrade tonight.
Before the mayhem began, I did a snapshot of the /ES to illustrate how important the floor at 2826 was.