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.
My wife and I stumbled upon the television series Tehran about a week ago, and we’ve been obsessively watching it ever since. It’s great stuff! Of course, Iran is very much in the news these days, and while Americuhns certainly has strong opinions about the country, they’re not so swift when it comes to the most basic information like, I dunno, where it’s even located (hint: not in the middle of the Indian Ocean).
There are a variety of ETF products which are constructed from the elements of the FAANG tech stocks. One look at these should send shivers down bullish spines, as they are marvelous topping patterns (and account for a HUGE proportion of market value).
After ages of watching the /NQ try to bust past its price gap, we’ve finally got a reversal. Even in just the past few days, the /NQ made five different attempts to rip higher, failing each time. I guess yesterday was the last gasp, because the QQQ, having finally sealed its price gap from early November, created a new, lower gap and, more importantly, has broken its medium-term uptrend. This is the first positive development the bears have had in months!
Attentive Slopers know that Rivian was my one and only long position. Was. I had a stop-loss at 18.25 (I bought it at 18.90) and got stopped out this morning at 18.20. Good thing, too. It’s a full dollar lower than my execution price already. That’s what stops are for!
It seems that, yet again, what should have been a breakout has morphed into a slump. Probably the next and best opportunity for RIVN would be after getting pummeled down to that ascending trendline, which could take months.
Happy Wednesday, everyone. We just got our latest economic data, and it is very bull-friendly: ice cold (zero, in fact) PPI data and better-than-expected retail data.
In spite of this, equity futures are down about half a percent or so, whereas gold and silver continue to absolutely barnstorm the planet, each of them at (as usual) new lifetime highs.
(more…)
