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 Two Sides of Oracle (By Jeff Patterson)

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A quick look at a short term trade I took yesterday in ORCL on the short side. In my experience after gap ups and when you get the formation outlined in the blue lines, its a sucker move that most always leads to a quick and abrupt correction down to the 30 or 50 day moving average in short order, which is where I will cover and go long. I am just pointing out formations that work well for me a high percentage of the time and it may seem to be counter intuitive based on recent action. None the less I am willing to stick to my high percentage set ups.

However I think ORCL will make a nice long play after the short term correction I believe is coming. I am posting two charts, daily and weekly. The weekly chart clearly shows a triple top breakout, but first they must trap the weak bulls on the daily chart with the current formation and subsequent correction before the sustained up trend truly begins.


TEVA (by Jeff Patterson)

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A quick observation, I thought I would point out that TEVA is breaking out to new all time highs. I did a post a few weeks back mentioning TEVA was on the cusp of a breakout to new all time highs. I believe TEVA merits close attention for possible entry.

I have been holding a core position in TEVA for a long time, so I personally sold some that I bought for a breakout and some of my long term holdings in it. I have a trading plan for TEVA that I have been following for some time and my selling is part of that plan. If the action is positive in TEVA over the next few weeks I will be adding another position in TEVA for a intermediate time frame trade.