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.

ISM Manufacturing is Wobbling @ 49.4%

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The weak ISM headline number (PMI) was an excuse for bonds and precious metals to bounce and the US dollar to drop today. It evidently inspired wild eyed casino patrons to unwind recent positions (short gold, long USD for instance) as the great and powerful Fed now has reason to stand down in September. Such is life in the casino; always a story, always a play, always manic, always addicted to short-term news and media inputs.

Before looking at the particulars of ISM, let’s review the Machine Tools sales data that we have not looked at in a while. It is and has been W.E.A.K. for years now, outside of the traditional year end tax mitigation bounce. Data through June (source: EDA):

machine tools

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Semiconductor Sector, Updated

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We have been using the Semis as a one of several economic signposts, and as an investment/trading destination since the Semi Equipment ‘bookings’ category in the Book-to-Bill ratio began to ramp up several months ago. But those who say that Semiconductors are subject to pricing pressures are correct. It is a segment in which people need to be discrete with their investments. NFTRH 410 updated some details about this market leader.

sox vs. ndx

sox vs. spx

Semiconductor Sector

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Why the Convoluted Message From Yellen?

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Why the tough talk out of one side of her mouth and ‘other policy tools’ language out of the other (ref. Yellen Lays Out Tools… )? Oh, I don’t know. Maybe it has some thing to do with this…

The stock market has merrily followed money supply aggregates upward since 2009. When money supply decelerates the market corrects. When money supply ramps upward the market ramps upward. Money supply has been rolling over since 2014, which was not coincidentally when the first tremors began for the stock market in its recently completed top (that wasn’t). From SlopeCharts…

s&p 500 and monetary base

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Greenspan Era Blueprint on Inflation

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For further thoughts on inflation and the content of this article

The post title is best when drawled in Gomer’s thick southern accent. (e.g. “Surprise, surprise, surprise!”)

gomber and carter

I realize Gomer Pyle was way before the time of much of my reading audience, but for the last few weeks I’ve been hearing him in my head as not only NFTRH, but now the wider financial media get on the idea that things are not as bad as had been generally perceived going into the hype fest known as Brexit. Most recently, a writer who always keeps an even keel, Chris Ciovacco, has summarized the situation nicely (as posted at Biiwii).

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