As an homage to this week as a whole…………..
Too early to bring back this banger someone created during the first drop?
by u/Da_Millionaire in wallstreetbets
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.
Roku Bullish Gap
OK, fine, a bullish play for a change. May I offer to you Roku, which has a nice clean price gap and a well-formed basing pattern. Even I like this one!
Tesla in Days Ahead
The stock chart of TSLA has been behaving itself quite predictably lately. The company has lost a quarter of its value in a matter of weeks, and after it pierced its supporting trendline (in blue, below) it was up to the Fibonacci retracements to hold the sucker up. The highest Fib failed yesterday, and the middle Fib has done a yeoman’s job keeping prices up (note the low of the day perfectly coincided with the value).
Tango and Cash
OK, that feels better.
- I have moved from 0% cash to 25% cash;
- I have maintained almost every single position, simply taking partial profits;
- I’ve got a ton of buying power IF we move higher next week and have better prices for shorting
One item I didn’t touch at all is Nvidia, which reports next Wednesday afternoon. This thing is totally in the free-fall zone.
Hazardous Weekend
Most trading bromides are useless and annoying (the all-time champ: “Trade the chart in front of you”) but one I think is actually worth remembering is “Trees do not grow to the sky.” That is a reference to stocks going up, but there should be some converse for stocks going down, like “Roots do not go to the Earth’s molten core.” Nah, that’s not quite it.
Anyway, this has been a fun week, no doubt about that for one moment:
