The Big Circle’s Gonna Shrink
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.
PREMIUM: Where We Stand
Earlier today I did a premium post which stated I would be going long bonds. Indeed I did. I bought a bunch of calls. If you know me at all, you know how short my long positions last, and I got out of it already at a nice, quick profit. Suffice it to say I’m back to “pure bear” again, albeit with 50.8% cash.
This has been an amazing week; let’s look at the ES:
Going…….Going……..Gold
Wow. Precious metals continue to defy their moniker. Gold has failed a large right triangle top.
Hitting Rising Support on SPX
I didn’t really have time to fall much in love with the possible bull flag channel on SPX yesterday as it broke hard and SPX went directly to the main support level I was expecting to see tested later after a bounce. That level is rising support from the 2022 low in October which I mentioned yesterday morning as being in the 4240 area. The low yesterday was at 4238.63 and that was a solid test and reversal there. The low also established a possible alternate bull flag falling megaphone support trendline from the July high at 4606.097. So where does that leave SPX?
(more…)New Favorite Son
As I strongly, strongly, strongly suspected, my Fantastic profits on XLU have moved on to Sensational without my presence. I keep watching, slack-jawed, as XLU continues to collapse. I made about 140% profit, but I know in my heart I left this thing too early. Typical. In any case, congratulations, as always, to those of you who had the sense to follow my idea but not my execution. The table is about to break from all the money I left on it this month.
