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.

You-Turn

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I’ve been noticing an interesting phenomenon this week, in which the equity futures are very strong before the opening bell, but the moment the cash market opens, the breakouts that should have taken place simply don’t. If I were a bull (pro tip: I’m not), I’d find this absolutely exasperating. The Russell 2000 futures is a perfect example of a breakout in full formation (green) which absolutely barfs when the bell rings (red).

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Men In Tights

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Robinhood (HOOD) reported earnings before the bell on Wednesday morning.  The stock responded by closing down 14% on the session.  Taking a look at the earnings report, here are the highlights:

  • Quarterly revenue rose to $467 million, but short of expectations of $480 million.
  • Earnings showed a loss of 0.09/share, which beat expectations.
  • Crypto trading dropped 55% year-over-year.
  • Transaction-based-revenue dropped by 11%.

The stock went public in the summer of 2021, and found an initial week-long bounce.  It’s been all downhill ever since for the stock.  From the peak of 2021 until today the stock has lost roughly 90% of its value.  Is the selling over, or are we in for new lows on HOOD?  Let’s take a look.

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