We all count on Microsoft more than any other entity on the planet, right? Right?
Old Faithful
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.
Toolbox of Hammers
I am stuck by this consistency among the indexes: Tuesday was a hammer candlestick in every case (or a hanging man, if you prefer). The reason? It’s anyone’s guess, but my theory is that traders know the market is historically overvalued and it SHOULD go lower (hence the weakness midday) but they reflexively bid prices up based on any sniff of weakness. Still, this is the first decent selling we’ve seen since March 30th, and I wouldn’t be surprised to find out something bigger has just started.
The Grizzle Twins
Better Watch Out!
I’ve swapped out one anchor position for another. I dumped my DIA puts earlier today and decided to replace them with TLT September puts. As I’ve mentioned, interest rates have been defying their breakdown for months, and for a variety of reasons, I see these as headed much higher. Warsh can’t change that.
After the Savoy Truffle
I’ve been impatiently waiting for Bitcoin to break for weeks. We aren’t there yet, but we’re very, very close. It briefly crossed below the psychologically important $80,000 level earlier today, and it is pressing against the trendline. It has NOT broken it yet, but if it does, that’ll be a positive development for the one or two Bitcoin bears on the planet besides myself.
Unrelated to this, I took 120% profits on my SMH puts I bought yesterday. I wouldn’t be surprised if they go up more in value, but I’m just not emotionally designed to deal with stuff that expires in a matter of a few days.
