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.
Slope had a lot of great short ideas in May. I was up 25% for the month. When trading began for June (that is, on Monday), I made the shift from bearish to bullish. Some people apparently thought this was a sign the market was going to collapse.
Why would that be? Am I a contrarian indicator now? If so, I’m not sure why. Slope has been knocking it out of the park – – even with cryptos, whose top I called last week, and I don’t even trade the stuff. So I’m a little puzzled why my pointing out great “long” charts would be seen as a sign of the end-times. Every single one was profitable, and handsomely so.
In my post ‘Important Support Breaks’ on 2nd May, as SPX was starting to break down after the new all time high, I was talking about the ideal retracement target at the possible H&S neckline in the 2722 March low area. SPX bottomed out yesterday at 2728 and in practical terms that target area I gave has been hit. The low from there was decent and on the chart below I have inset the tweet I put on our (subscriber only) twitter feed just after that low calling the possible nested double bottom setup with an overall target in the 2799 area, and obviously that has been playing out since and is almost at target.
I know I’m impatient, so I’ll offer that as a warning. In any case, I am certainly not getting aggressive, since we’re only one day into this bounce, but I am putting my toe back into the water with some carefully-selected shorts, shown below. I have zoomed in to the salient portion.