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.
Below is a chart which future generations as well as younger traders of the present day will consider science fiction. It illustrates that the S&P 500, in the span of well less than a decade, had two bear markets.
These bear markets were not measured in minutes, hours, days, weeks, or even months. They went on for years, plural. These days, any drop lasting more than a few dozen hours seems foreclosed by Keynesian decree.
Ah, yes, there’s nothing I enjoy on Slope more than highlighting my shortcomings, character flaws, and personal screw-ups. Let’s get into another one, shall we?
May I direct your attention to the minute bar chart of Adobe (ADBE).
The China trade wars from the first Trump administration were tiresome, since they went on for months, jolted the market every time there was an announcement of “trade talks are going well” (it became a meme at the time), and, in the end, resulted in a laughable deal in which, effectively, the United States paid a huge sum of money for the sake of the creation of a few tens of thousands of jobs to make the whole charade look like a success. Suffice it to say, the U.S. didn’t dominate China after those talks were done, nor will they do it this time.
Even so, the fresh memory of the giant rally about a month ago (green tint) based on nothing more than Bessent and China putting a pause on tariffs, compels people to continue to load up on stocks, since Bessent is in London at this very moment doing Round Two with his counterparts from the middle kingdom. I imagine before Tuesday’s session is over, there will be some other flavor of “trade talks are going well, and we’ll meet yet again”. This will go on until the end of 2028.
Long-time readers know I’m not really into travel, not even when it’s for vacation. I had kind of been bracing myself for a series of trips over a period of weeks, and I was gritting my teeth with anticipation to get to the other side of them and get back to normal.
Well, I made it, and THIS is the welcome home I get!
The movie Poltergeist came out 43 years ago, but perhaps you’ve seen it.
After the family has already been through hell, and things seemed to finally be getting back to normal, the haunting begins, and worse than ever. The young child, Carol Ann, who had been saved from the demons, could only stare in disbelief at the forthcoming terror and meekly murmur, “No more………….”
Carol Ann, I know precisely how you feel.
