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.
Struck Out!
The only earnings release of note this afternoon was Crowdstrike (CRWD) and it exploded higher, plunged lower, and right now is down about nine bucks or so. Aggressive short-dated put and call owners are probably pulling their hair out whereas options sellers, at least as of this moment, seem to be sitting pretty.
Crowdstrike After Hours
Even with earnings season largely behind us, there are still a smattering of companies worth watching. This evening’s will be Crowdstrike (CRWD) which broke its long-term uptrend weeks ago and is quite plainly in a downtrend.
Index Look-See
Quite a week so far, eh? Let’s catch up with a few major indexes.
The NASDAQ Composite is still hammering out what I pray to God will be a top for the ages. We’re getting there, but we are NOT there yet!
The Bigger Picture on … Oil
Over the last year on my The Bigger Picture videos I’ve been watching a potentially very bullish setup form across the oil markets and I was planning a post on that this week before the expected attack on Iran. That attack happened earlier than I expected on Saturday so I’m doing that today.
Before I look at that though, I’ll go through the reason why this conflict in Iran could cause a really serious problem in world oil markets in coming weeks and perhaps months.
World oil demand is currently about 105 million barrels per day. In the absence of major supply issues there is currently a surplus of two to three million barrels per day in oil supply above that demand level which is the reason that prices have been soft and kicking around the big support area at $50 to $55 in recent months.
(more…)