The permabulls at Zerohedge (which obviously are little more than a mouthpiece for Goldman, whom they parrot endlessly) are 100% guaranteed to be right. These posts were just minutes apart:
Guaranteed Correct
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.
Oliver’s Army
Decision Time on the US Dollar
In my last post on the US Dollar on 26th June I was looking at the very big inflection point forming here on USD that will likely ultimately resolve into a rally back into a retest of the 2022 high at 114.78, or a break down towards the 78-9 area.
Since my last post, on the monthly chart below, USD delivered a small move down to test the rising megaphone support from the 2011 low, rallied and then retested the low, slightly breaking that rising megaphone support.
What would that generally mean? Well the slight break of the rising megaphone support means that my working assumption is now that USD is in an topping process for the move up from the 2011 low, so I am looking for a topping pattern to form, and the retested low has set up a shorter term double bottom that may now deliver a strong rally.
(more…)Shut it Down. Leave it Down.
The S&P 500 was at its highest level in the history of the Milky Way galaxy only yesterday, but my 25 short positions closed yesterday all profitable. All 25 of them. Added to which, it looks like the prospect of a government shutdown isn’t exactly thrilling the markets. Or maybe that’s not it. I couldn’t care less. They’re all just charts to me, and they’re moving As God Intended ™.
Bodycam Breakdown
I had tried shorting Axon Enterprise (AXON, which was TASR many years ago) but it never worked out. It’s a shame, because NOW it’s really getting hammered! For those not aware, this is the maker of tasers and bodycams for law enforcement, and the assumption was that they’d be printing cash since Trump wants so many people tasered.
