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.
It seems that Nvidia has replaced Amazon, Apple, and Google as The Most Important Earnings Report in the World. Strangely, the company has for some reason elected to have its earnings announcement weeks after everyone else has already left the stage. The big event is, of course, Wednesday after the close.
At the end of last month, I did a despairing post called Totally Bullish, which hopefully for the wiser of you took as one of the greatest short-sale signals in human history. My post was sincere, however. I saw virtually no reason left anymore to be short anything. The charts were just too goddamned strong.
What a difference a few weeks has made. The Dow Industrials, one of the clearly strongest of all the markets, has puked all over itself. It topped out (pink tint), smashed through its former breakout level, and is now stuck beneath it. It seems that reality has finally, FINALLY, leaked into the brain-dead investing public and allowed some selling to take place, and as a chartist, I am just thrilled that these bullish setups have virtually all encountered their own ruination.
The horizontal support line on KBE which constituted the top of its bullish pattern has failed.
Good.
The funny thing is that Softbank is about to IPO their semiconductor company. God knows, if there was ever a massive “top” signal for a sector, that’s got to be it. Softbank is the Reverse King Midas of finance.
