I am taking advantage of the (laughable) rush to buy stocks again by shorting some retailers that are approaching major resistance levels.(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.
My Favorite Cephalophore
Investors have been rampaging back into some of the most ravaged issues in recent days. One I’d like to point out is the fund HYG, which is the high-yield corporate bond ETF (in other words, a way to earn 2% interest while seeing 10% of your capital destroyed). Anyway, it’s getting tantalizing close to major resistance. I’m going to wait another day, but it’s worth a blip on your radar screen.(more…)
Listen to Ether
Looks like the Jim Cramers and Cathie Woods of the world are getting a much-needed break. Uh-huh. I suggest you pay attention to what’s going on with Ethereum. It is still weak, and if it starts seriously cutting loose to the downside, I think you’re going to see stocks do the same.
For obvious reasons, my enthusiasm about energy-related shorts has cooled substantially. I’ve got an important update for Gold and Platinum members in this post about the market in general.
Look, I know of you probably have your stomachs in a knot about this strong rally. I believe with every fiber of my being this is going to burn itself out. Sure, it could push us to 4100 on the /ES, but don’t get fooled by the likes of Jamie Dimon. This isn’t some great new bull market. Do you seriously believe on the heels of the past 13 years, we’re ready to launch again? Watch this.
“That market drop was our last hope.”
“No. There is another.”
Those Amazing Lines (Again)
As many eons as I’ve been doing this, I never lose my sense of wonder about charting. A great example this week was Abercrombie & Fitch, from which I garnered 240% gains on the puts. I dumped my position swiftly on Tuesday morning when it crashed, and I’m glad I did, because it exploded about 25% higher on Wednesday. But check out where the peak was………..precisely at the same price channel which it had broken with such drama! I find that absolutely remarkable. Once again, support became resistance.(more…)