If you want a breathtaking view of how much financial stocks have strengthened, look no further than the chart of FAS below, which is the triple-bullish ETF. The interesting thing is that one didn’t have to be lucky enough to buy it in depths of the financial crisis for a bargain price; it was actually very depressed in October 2011, only a year and a half ago. It’s up 345% since then. I won’t show its opposite here, symbol FAZ, but it basically looks like a ski slope ever since its inception. (more…)
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.
O Fortuna
This is quite a curious life I’ve chosen for myself. (more…)
More of the Same
It’s enough to break anyone’s spirit.
Even after hours, the bears can’t catch a break. Bernanke was ostensibly going to make a speech about the history of the Federal Reserve. Instead, he used it as a forum to announce that QE would basically go on ad infinitum, so naturally all assets are spiking higher. (more…)
Got Hope?
All the world loves a lover, and all the world hates a bear. It’s never easy being the ursine type in this world, but I’m truly starting to believe that it’s worse than ever. For approaching five years now, the central bankers of the world have succeeded in snuffing bears out of existence, one by one. And during the few times that it seemed there would be hope, the amount of time it takes to turn things around again gets shorter and shorter. (more…)
Fun-B-Gone
Well, wouldn’t you know it? The moment I’m starting to really enjoy trading again, along comes the biggest up day of the year. A major reversal in the ES and the NQ, apparently prompted by little more than the fact that the Japanese Yen stopped gaining value. Incredible.
The area around 1600 is representing very firm support for the market right now. That was our “breakout” area weeks ago, and twice now we’ve challenged the same zone, confirming it as support both times. What’s especially interesting about this level is that it also coincides with the ascending supporting trendline of the channel I’ve drawn. If, God willing, the ES breaks 1600 and can actually stay beneath it, that suggests a pretty important violation of support. But it hasn’t happened yet, so the support stands. (more…)
