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.

Topping Trio

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As I attempt to understand if the bottom is in for the remainder of 2023, I look for clues. Below are three stocks I found interesting for their tops, and important support/resistance levels shown. Let’s take a look.

UPS is an interesting stock to follow for me, although I rarely trade it. I was short the stock briefly this spring, but was not involved with UPS during this fall’s significant decline. Looking at the chart below you can see that the stock had a massive run higher post-Covid, and then constructed a well formed top over the past three years. The top appears to be breaking down with the weakness UPS has seen over the past couple months. The two dashed lines should make for a good stops for those interested in shorting the stock.

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Satellite Nation

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Did you know that there are almost 7,000 satellites orbiting the Earth today? Governments, surprisingly or unsurprisingly, are not the key owners of the technology. SpaceX is the clear leader at the moment, with roughly 50% of satellites in orbit. By comparison, the U.S. and Chinese governments make up a 4% and 5% share. Slope’s favorite Amazon founder is attempting to nip at Elon’s heels though…

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Tuesday Earnings

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Good morning from sunny Tennessee. As I turn on my screens this morning I see red on the futures. /RTY is down about 0.50%, and probing yesterday’s lows. I think today will be an important session for /RTY, as we look to see if the pullback from last week’s strong bounce accelerates, or if we reverse back higher to make a run at the key POC cluster of resistance between 1775-1783.

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Dis(h)aster

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Dish Network (DISH) reporting earnings before the bell on Monday morning. Early trading had the stock trading down nearly 20%. Let’s take a look at the charts and the earnings to see what happened. Both earnings and revenue surprised to the downside. Earnings came in with a surprise loss of 26 cents per share, versus expectations of a profit of 11 cents per share. Revenue came in at $3.7 billion, versus expectations of $3.82 billion.

Looking at charts below we can see the scope of the damage. The first chart shows DISH since mid-2021. After Covid, DISH topped before the broader market, and has steadily been in decline ever since. The stock is down roughly 90% since mid-2021. Today’s large drop sent the stock to new lows.

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UK AI Safety Summit

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Last week the UK and Prime Minister Rishi Sunak hosted the 2023 AI Safety Summit at Bletchley Park, Buckinghamshire.  The summit brought together leaders from 27 countries around the world, including the United States, China, the EU, India, Israel, and the Middle East.  The introduction to the summit can be viewed here. The goal of the summit was stated as:

“The summit will bring together international governments, leading AI companies, civil society groups and experts in research to consider the risks of AI, especially at the frontier of development, and discuss how they can be mitigated through internationally coordinated action. Frontier AI models hold enormous potential to power economic growth, drive scientific progress and wider public benefits, while also posing potential safety risks if not developed responsibly.”
AI Safety Summit 2023

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