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.

ABX+GDX Calls

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8.15ABX

 

8.15GDX3

We like ABX and GDX both for calls. It is basically the same trade so we would pick which one you like the best. GDX target is $67 on the current leg and ABX target would be $57. There are higher targets but these would be the levels we would look to scale out of the calls.

We had a buy signal last Thursday on both of these stocks but since then they are not up much so they are still valid here.

Short GLD and buy GDX would be a good trade here.

Happy Trading,

www.eMiniSchool.com

http://wwweminischool.wordpress.com/2011/08/16/gdx-sept-62-calls/  

Ratios and Symmetry (By eMiniSchool.com)

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8.13SPY1

8.13SPY2

In the last posts we were noting the symmetry levels on the support side of the market. The ES,TF, and DOW all came down and hit the symmetry support but none of them closed below the support levels. The only one that did not hit the symmetry support was the NQ (it came close).

We received emails saying we were crazy for putting out support levels as the market was falling and how "this time" the market is different so the levels do not mean anything. It seems like every time the market starts to try to make a top it is always "different" from before but in reality it is no different.

If you look at the charts above we noted the symmetry going up. We did this so you can see how the calculation has worked in the past. It is up to you if you want to follow the levels or ignore them but you will see using the calculation it would have told you where the turning points were. These turning points are part of how we get symmetry for the entire pattern. 

The top chart is the last high. Going from the 09 low there was 55 bars up (55 is a important number). From that high we pulled back and from that low we went up 36 bars. Divide those and you will get 1.5262 then divide that by two (Two Waves up) and you will get .763 and you will see how the last high was at the .763

Go to the bottom chart and we broke down that first leg into two minor waves. First leg up 29 bars and the second leg up 35, divide those and you will get 1.21 and divide by two and you will get .605% and you will see how that number picked the high in April 09'.

We cannot say for sure that the symmetry support where we are now will hold forever and it is not there to tell us that but it is there to tell us if the trend is still true or if it has changed and now is false. If the up wave becomes false that is when we get a true trend reversal. 

There is minor and major symmetry and the last posts on our blog are noting the major symmetry levels. If we bounce up from where we are now and then fail to take out the high and roll back over we will be breaking symmetry support and fall to the inverse of symmetry. If you go back and understand how to get the calculation you will see it picks it almost every time. 

We also used this in our AAPL timing Video here: http://eminischool.blogspot.com/2011/07/aapl-timing-video.html  

To get the symmetry support on the markets use this link and go back through the last couple of pages and we have noted all the markets.  http://wwweminischool.wordpress.com/   ( we will update the levels again tomorrow night on the wordpress blog) 

Happy Trading,

www.eMiniSchool.com 

PS. If you take the first 605% and the second .763% and add them together you will get 1.368 then divide that by two you will get .684%. Take that and divide it again by two and you will get .35 which is the average symmetry support for all the markets right now. 

AAPL Follow up+Futures (By eMiniSchool)

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This is a follow up video from the AAPL timing high video. If AAPL closes below last weeks low we would have a bearish engulf at price and time resistance.

The market had a wild day breaking the symmetry but it is important to know that the symmetry was what we consider to be minor meaning; since the March 09 low the pullbacks have been very shallow and today we broke out of that shallow type corrective condition.

This is the first ABC from the high so it is still labeled bullish even though it feels bearish. Yes, the pattern as it goes could turn to a bearish pattern but that is still a few legs away. We say that it is the last bullish pattern that fails is what starts a new direction so we need to find a low bounce and then fail before we can say the high is in for sure.

We are coming up to the next support so we would be aware of a big reversal day coming soon if not tomorrow.

Happy Trading,

www.eMiniSchool.com 

Original AAPL Video:  http://eminischool.blogspot.com/2011/07/aapl-timing-video.html

July 20th 78% time resistance video:  http://eminischool.blogspot.com/2011/07/fib-time-video.html 

 

Watch Out For Support (By eMiniSchool)

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We know emotions are running high in the market with all the news but we have not taken out symmetry support. Looking at the NQ,TF,ES and DOW all the symmetry supports are above the 50% which means if we do turn here the market is still very bullish. 

If this is the bullish pattern that fails we will fall down into the bigger support area around the 1140 area on the ES. 

Happy Trading,

www.eMiniSchool.com 

http://wwweminischool.wordpress.com/ 

Important Symmetry Video (By eMiniSchool)

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When we look at the market we are always seeing if we are inside or outside of symmetry. It is important to know if the symmetry support is above the .618 the market can break symmetry to fall down into the bigger support and still be bullish. It is also important to see if we are still inside of symmetry before trying to pick the top of the market. You will see in the video how calculated the markets have been since the 09’ low.

Some traders think that what we do is too “Voodoo” and it has no meaning. The thing is as traders we do not have to be 100% fundamental or 100% technical. In my view the market is 90% technical and 10% fundamental but that is just my opinion.  

I have seen the market turn too many times at symmetry support and resistance to ignore it. I have found that the people who do not believe just are not informed on the subject, just like anything in life.  I hope the time we put in on the blog can inform you so you can look for yourself and the stocks you own to make the best decision you can before pulling the trigger on emotions.

Earlier today we did a post on the corrective symmetry and so far that has been the low of today. This does not mean it is the absolute low but it is an important low going forward a few days.  

Corrective Symmetry Video from earlier today: http://wwweminischool.wordpress.com/2011/08/01/corrective-symmetry/ 

Happy Trading,

eMiniSchool.com