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.
I continue to be amazed at the destructive force of the H&S top on Jack in the Box (JACK). This thing has been hammered down to its price from the PRIOR MILLINEIUM!
That’s right: a buyer in 1999 would be looking at 0% gains, ignoring the fact inflation has actually torched the value in spite of the nominal price.
Human beings around the world are REJOICING that Adobe, a company mostly known for overpriced subscriptions which are virtually impossible to cancel, is getting destroyed. It is down 65% from 2021 during one of the most stupid bull markets in history, so its true value is probably 95% lower than its peak. Its lifetime trendline is broken, and even though I have no position, I am delighted to see this pig get laid waste.
I have stated a target for Bitcoin over the next year or two as $25,000. I’d like to backpedal on this and change that to around $35,000, not because I have faith in Bitcoin (far from it!) but simply because the chart has clarified lately. Given the fact we’re in the $70,000s right now, this adjustment matters just about zilch.
Yesterday I went long BITI in order to take advantage of Bitcoin’s projected drop. This investment has worked out well over the long course of its one-day tenure.
It’s a good morning, and I’ve been busying tightening up stops. One stock that’s done nicely is Dollar Tree (DLTR) which is down about 3.5%, affirming the value of its (imperfect) H&S top.
