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.
OK, I finally figured it out. It took me long enough, but now I get it.
For years, I’ve had a fascination with stand-up comics. I’m not just talking about their comedy, which I certainly appreciate on its own. Indeed, George Carlin has been Slope’s patron saint for years. I mean my ceaseless interest in their work. What they do. How they do it. What their life as a comic is like. What it really means to be a comic day after day.
I’ve never tried stand-up before. It isn’t out of shyness. I enjoy public performances. I’ve been on stages many, many times. Usually talking. Believe it or not, sometimes even singing. Yes, me, singing on stage. For an audience. Honest. But I’ve never tried comedy, even though I’m known to occasionally write funny stuff.
But it finally did click: I’m already doing it! I’m a stand-up. Or at least something extremely close.
Today was an historic day for multiple reasons. There were certain aspects of those, shall we say, histrionics that flowed into the market. I wanted to walk through these by way of horizontal price levels and tilted trendlines.
Let’s start off with the Dow Jones Composite, which reached escaped velocity. It has been cramped under that horizontal after since its last big “lift-off” day, which was November 9th. Now, about two months later, it got its next booster. Unless it tumbles below that line again, it seems it is merely positioned for another, higher, range.
Just a quick note regarding TSLA (which is now sporting a bargain price P/E of 1547 which means that at its present rate, Tesla will reward its shareholders with a full repayment of all profits by the year 3568). There’s a spiffy shooting star pattern today. If by some miracle the high price tomorrow is beneath 755.98, it’ll make an island reversal pattern, a favorite of mine. Just sayin’.
Now that the runoff is complete, it seems like the market is anticipating much higher interest rates (which the banks are gobbling up with gusto). Witness the absolutely demise of bonds taking place right now by way of TLT: