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.

Breakfast Bummer

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I rarely allow myself any personal time during market hours, but today I made an exception and had a nice long brunch with my wife and daughter. The moment we sat, the /ES was down 40 points, and I was sure this was going to be a great, profitable, don’t-have-to-do-anything day. By the time we left, for no particular reason at all, the /ES had reversed 60 points to the upside. Crap!

The chart below of the past few weeks concerns me. We were steadily making lower lows, but after last Monday/Tuesday’s historic surge higher, the bulls have become obnoxious again. The low we hit early today was merely a “higher low”, which is the last thing I want to see. It seems that only an oh-my-God CPI on Thursday morning can save the bears at this point. I disgustedly lightened up on my positions, reaching 12.5% cash, and decided to just let it sit until the all-important CPI. What a pisser.

They Can’t Help Themselves

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Well, the nauseating news this morning is that the Central Bank of England, which “temporarily”: stopped QT and fired up QE on all thrusters, pledging to stop the program this week, has extended and expanded its bond-buying. Central bankers simply have no other ideas. Just keep trying to out-print each other. Thus, what had been a nice fat wipeout in equities has been totally reversed. As I am typing this, every single stock futures is goddamned green.

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