More controversial opinions, designed to piss off every bull. First, retail has broken its channel. I was bragging about my brilliant bear call from the tippy-top of the channel but apparently the comically-overvalued market is starting to dawn on even non-Slope readers, so channels like this are getting shattered.
(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.
Totally Sour
Remember Lemonade? The company that, at the start of this year, was WORTH MORE THAN IBM? Yeah, that Lemonade. The company none of us have heard of. Let’s just say it’s not longer worth more than IBM. Or the Slope of Hope, for that matter.
Going Big
I’ve made this point before, but it bears repeating: I’m sitting tight with ALL my positions, in spite of all these huge “up” days we’ve been stomaching, simply because the patterns have all the marks of major, important tops. Taking Discover Financial Services as an example, the reversal pattern as gorgeous as Rachel. The dip we’ve seen so far, in spite of it throwing off a nice triple-digit gain on my put options, is Pee Wee compared to the potential. Thus, I’m not BUDGING.
After the Jobs
Good morning, everyone, and Happy Friday to you. Well, the monthly jobs report came in, and it was utterly tepid. See that red arrow? (I sure hope so). That’s the spread between expectations (the gold line) and reality (the blue bar). You’ll notice there are quite a few of those lately. Simply stated, there were vastly fewer jobs created than expected.
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