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.
You’ve heard the old saw that you shouldn’t try to grab a falling knife. Perhaps the same holds true that one shouldn’t try to grab a soaring bottle rocket. I have ignored this, however, and shorted AXTI today based on no other reason than the fact this chart is absolutely ridiculous.
For time immemorial, the “best music” for any given person is whatever was playing when they were teenagers. For me, that means the 80s, including the song below. Of course, I don’t think Elfman could get away these days with hiring a bunch of acting midgets (which he did in EVERY video, it seems) and celebrating his attraction to “little girls“, but hey, it was the era.
I’m nowhere near ready to make a victory lap, but I’ll certainly say that an /ES up 20 points sits with me better than an /ES up 50 points. Thus far, all the major equity futures have some form of “overshoot” which has been beaten down. We’re still green across the board, but more modestly.
This morning is the most damaging to the bears since the war began. The reason isn’t particularly the percentage change – – as I’m typing this, the /ES is up all of 0.7% – – but instead has to do with prices puncturing above resistance levels.
Far worse, they are doing this based upon no meaningful news. It’s not like Iran has surrendered or anything. Prices have simply been powering higher ever since the Friday the 13th close. Here is the /ES:
Long-time readers know of my disposition toward government, and by government, I mean any government, be it federal, state, or local. I consider them to be a magnet for waste, fraud, and laziness, and I daresay if every single government employee on the planet vanished instantly into thin air, almost all of us would be vastly better off (to say nothing of demonstrably wealthier).
The frustrating thing about government waste is that you can’t do a damn thing about it. you just have to live with the fact that your assets are going to the worst of humanity. Here in my fair city of Palo Alto I have read about countless instances of the kind of crap that makes me despise government more by the day. First, there’s this gem:
