It isn’t very high volume, but this stock (BC) looks like a beauty of a long-term short.
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.
Duke Update
The Low Before The High
In my post on Monday 10th Feb I was looking at the bull flag setups on SPX and QQQ and the historically bullish lean through Tuesday 18th Feb and was projecting that we might well see retests of the all time highs on SPX and QQQ in that bullish window. We saw those all time high retests on QQQ on Friday 14th Feb and on SPX on Tuesday 18th Feb.
In my post on Wednesday 19th Feb I was looking at the very nice looking topping setups on SPX, QQQ and DIA and the historically bearish lean through Friday 28th Feb and suggesting that, if these patterns were going to deliver, then this bearish window would be a good time to get started on that.
Obviously that bearish window has delivered hard, and today is the last day in that bearish window, with the historical stats for today closing green 28.6% of the time.
(more…)Fortune Cookie
Good morning, everyone, and Happy Friday. I survived night number two with little Duke, and he’s doing great. He has intuitively grasped that when I stand and work, he can just curl up right next to my feet and relax. Clearly this pup understands the nature of Slope. By the way, if anyone recommends to you the value of setting an alarm clock to go off once every hour all night, tell him no thank you.
The past five trading days have been amazing, and now that the PCE is out (which came in precisely at the estimate), I think Friday has a good chance of working out well too. The /ES, shown below, had two big downturns (purple) thanks entirely to Bear Force One. The juiciest downturn was the post-NVDA “hey, maybe this tree isn’t going to grow to the sky” realization, shown with the red arrow.
