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.
I’ve got to say, its a really good feeling to end a day in which the /ES went up triple digits (!!!!!!!) and virtually every stock on the planet was higher, and I don’t even have a scratch or a nick to show for it. I’ve got my nice big fat pile of put-option profits right here, thank you very much. Indeed, 2022 has been glorious. I don’t think there’s been a single thing – – not one – – that I’ve predicted that hasn’t transpired. My screw-ups are strictly personal. Maybe I enter a position a little soon. And often I exit it way, way before its potential is fully realized. But those are emotional errors, not chart-based ones. The charts have been divine. Luckily, you don’t have to deal with my emotions in your own trading.
The question before us, of course, is how long these criminal bull sociopaths are going to push the market before reality (AKA the good sense that Slopers have) takes hold again. Will the /ES got to 4,400, as Atilla believes? I don’t think so. My view is one of three possibilities:
The market is so diseased that today was the ONLY relief the bulls are going to get; or
The /ES will keep pushing to just under 3,900; or
The /ES will find some reason (peace in Ukraine?) to get to 4,100
As much as I’ve looked at charts about wealth distribution, this one was a total shocker to me. I never realized what a completely outlandish percentage of wealth Britain’s top 1% used to hold, and what a steady degradation they have suffered (although that isn’t quite the right word). Further, look at the U.S. has raced ahead in providing its rich people with the center of the meat. They have the Fed to thank for that.
Part of the reason crypto has been falling to pieces is because Celsius (which pledged huge interest rate returns and the ability to get your money out at any time…………..and then froze assets) plunged hard. It has, in recent hours, had an explosive, bear-destroying move higher. As a chartist, however, I look at a chart like this and conclude it’s screwed ‘n’ tattooed.