This is happening every single day. Every. Single. Day. We start off completely red. Then the buying starts at the opening bell. And it doesn’t stop until everything is green. Color me annoyed.
Mornings Don’t Matter
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.
Energy Failure Looms
It was only yesterday that I did a post about the bearish setup of energy fund XLE. Even though /ES, /RTY, and /NQ are all green (of course) XLE is down over 1% and is threatening to break its trendline.
Tesla’s Ennui
Tesla has morphed from the world’s most exciting stock to something that more closely resembles a passbook savings account. Indeed, from June 8 2023 through January 8 2024, a period of seven months, the stock changed…….ZERO. I would like to suggest the analog below, which indicates that the price is going to continue to meander lower for weeks to come.
Selling the Big News
After years and years of waiting, the entire crypto world is giddy with excitement today as the SEC has pledged to give its presumed blessing to some number of Bitcoin-based ETFs. In a rather comic event Tuesday, the SEC’s own X account was hacked and used as a platform to delivery the big news that ETFs were approved, which caused $BTC (below) to spike briefly but then collapse when the fakery was discovered. If nothing else it gives you a bit of an idea what the market is willing to pay in an BTC-ETF world, which isn’t a heck of a lot higher than we’re at.
