This is sad (but funny at the same time, in a gallows humor kind of way). Here in the Bay Area, one of the better-known anchors was a fellow named Frank Somerville, who won three Emmy awards. He’s been in the news a lot lately because he keeps getting arrested for being drunk in public. He’s a troubled man, and it turns out he got booted from his job in 2021. Watch this clip and you’ll schoon schee why. (Note: you have to be age-verified on YouTube to see this……….so click on the video’s link if you are so entitled.)
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.
Looking For A Short Term High
The high last Friday was only three handles below the close on the daily 3sd upper band, which is a rare event, so I did what I like to do with rare events, I looked back and crunched some numbers looking at previous examples. These are the stats I posted on Monday morning.
There are eighteen previous instances since the start of 2007 where a move has either punched through the 3sd upper band or delivered a near miss within 0.0025% of it (10 points at nominal SPX level 4000). Excluding the punches, none of which were preceded by near misses, there are twelve instances. Of those twelve instances five of them delivered a second near miss within three trading days, usually on the next trading day. Of those two delivered a third near miss within four trading days.
(more…)Small Cap H&S Intact
If we were going to assign different books of the Bible to Slope’s own history (I almost typed the word Prophet, but that was before………..) the current one would be Exodus. Besides myself, I can think of only two people on this entire site who remain steadfast believers that the market will be lower later this year. The others, I’m sure, consider us foolhardy (or, as one chap put it, uni-directional). That may well be. The ONLY red on my quote screen now is the small caps (that is to say, the IWM) which I’ve pictured here:
Elongated
If there’s one stock i don’t mind seeing go crazy-high, it’s Tesla. The only reason is because one of my beloved children works there, and if TSLA does well, it will establish a firm financial foundation for years to come. Having said that, I think a 60% pop in a matter of weeks is pretty goofy, particularly since this morning’s explosive move is predicated on the fact that GM and Ford cars will be permitted to roll up to a Tesla supercharger, pop in an adapter, and juice their car up. Whoop-de-ding-dang-do.
So That’s It, Is It?
Well the media has a clear message for the public, and this kind of article is slathered on every outlet you can find……..
