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.

The Weeklies (by Faces In Cabs)

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Bears ended up owning this week.  After Thursday’s sell off and the continued price destabilization on Friday, the weekly candles on many index charts now show bearish engulfing candles for the last week (e.g., not just on the daily charts).  So technically, let’s move up a trading time frame and look at a few weekly index charts.

Dow Weekly (10 weeks of gains erased this past week)

NASDAQ 100 Weekly (showing the mildest pull back, 3 weeks of gains erased)

Russell 2000 Weekly (shows strongest pull back with a pending double top range test at 1082)

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How to Build a JBTFD Screen – (by RayW)

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How to Build a JBTFD Screen (Works Up or Down)

It’s all about the percentages, not about prices.

1. Using the FinViz.com screener …

2. Select Average Volume “Over 100K” per day.  This is to keep the bid/ask spreads as narrow as possible.  Greater volume means thinner B/A spreads, means a smaller fool’s premium paid to market maker for bid over ask.  Don’t just give away money on fat spreads of thinly traded stocks.

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Ka (frickin’) Boom !!! (by Faces In Cabs)

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Thursday was a long, deep drink of cool water for bears after living in a technical desert for many months.  It was the third drop of 300 or more points by the $INDU during 2014 (with the first two times occurring in January 2014).  I was impressed with this technical event arriving on the last day of the month.  Volatility showed up boldly and US equities just declined (and then declined more).  Dip buyers were stunted for the 1st time in months.

Market Notes

  • Thursday Shock Event (across the equity markets) on nearly all charts
  • Selling came on much higher volume (see charts below)
  • Market Internals have changed (see charts below)
  • Bearish engulfing candles now probable on the weekly index charts
  • Many key daily trend lines broken (including the $INDU)
  • Volatility finally launches as VIX climbs 23% (watching for follow through)
  • Technically, the overall trend has not changed (yet)
  • A 2nd shock may arrive as early as Friday morning.

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The Inter-Market (by Faces In Cabs)

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I began visiting Slope of Hope back in 2007.  I opened my first trading account in 1999, began trading my own money, and started learning about fundamental investing by subscribing to IBD (Investor’s Business Daily) and the Motley Fool.  By 2002, I began learning about technical analysis through Stockcharts.  For years now, I have maintained a folder of 115 to 120 market charts that I review daily.  I am sharing some of them here.  Feel free to make your own charts from them.  I agree with Alexander Elder that to develop as a trader, you must make the tools that you use, your own.

For those not familiar with my trading style, I focus frequently on inter-market relationships to find arbitrage-like trading opportunities in the markets.  My charting has been greatly influenced by John Murphy.  I like to short-term trade (many times) the context created when inter-market forces line up for a directional move, as it helps me grab a higher percentage of the channel once a directional move emerges.  I grade my own trades upon the percentage that I take out of the channel.

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How to Build a Momo Stock Screen – (by RayW)

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Another first timer, thanks to RayW and I look forward to other Slopers submitting their thoughts, methodologies or any random tidbits they wish to share.  Send to iggyslopefest at gmail dot com.

How to Build a Momo Stock Screen (Works Up or Down)

It’s all about the percentages, not about prices.

http://tinyurl.com/maazafl

1. Using the FinViz.com screener first select Average Volume “Over 100K” per day.

This is to keep the bid/ask spreads as narrow as possible.

Greater volume means thinner B/A spreads, means a smaller fool’s premium paid to market maker for bid over ask.

Don’t just give away money on fat spreads of thinly traded stocks.

(more…)