It all started the day after the election (reminder: we don’t talk politics here; I am simply putting a stake in the ground with respect to a date). After the Presidential election was over, the market starting going from Insanely High to Laughably High, and it hasn’t even stopped for breath. Just look at the Dow Composite:(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.
Feel a Draft?
This is a good real-life example of how charting can be very helpful in giving warnings that something is going wrong.
Below is the chart of DraftKings (DKNG) without the past couple of months. This stock was one of the very few SPAC offerings which was actually thriving. It had a nice saucer pattern, followed by a right triangle. The breakouts were clean, and the stock was making steady highs.(more…)
25% In One Day
Following on the heels of last week’s outstanding 35% gains. We made 25% YESTERDAY. Not a typo. And my small cracker test account I started three months ago with $5k I am up to $100K. That’s nearly what most people make in a normal year IN ONE DAY!
In spite of a nation which is apparently desperate to hire qualified workers, the jobs report came in quite weak. Maybe people are so content sitting on their asses at home, collecting
free government welfare stimulus payments, they don’t want to bother. Or maybe the kinds of jobs that are available require skills that most applicants lack. I just cannot comprehend refusing to work, though.. I absolutely love working and would kill myself out of boredom if I had to sit on my ass and just get paid not to participate. Thank God I’ve got Slope.
Anyway, the initial reaction to the lame jobs report was an explosive UP move in Gold, NASDAQ, and Bonds, and an equally big DOWN move in Interest Rates and Financial Stocks (e.g. XLF). As I’m typing this, only a little into the trading day, the drama of these moves has largely reversed or at least been tamped down quite a bit. Bonds totally reversed:(more…)