I’ve got to say, I’m getting awfully tired of this crap.(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.
One look at the chart from December 26th to present tells the story. Up, up, up, day after day. In all these months, there were two – – count ’em, two – – decent down days. Besides that, it’s been a ceaseless bullgasm.(more…)
Well, that sucked.
Along with being Slope’s founder and owner, I’m also the proud and solo individual who actually admits to any losing trades. And today stunk. I still held on to some of Wednesday’s profits, but Jesus H. Christ, man, I was NOT expecting this.
Looking at the Powell belly-flop yesterday (see emphasis below), I seriously thought we were done with the 40-point range I keep talking about.(more…)
I did a post yesterday called Circus Tints, in which I wrote, in part, ” The yellow zone I’ve tinted above runs from 2825 up to 2865, a 40 point range (the math checks out). This is the “super easy” range for the bulls, because there’s absolutely nothing stand in their way in this range. “
Well, 2825 has been breached, and we’re ripping into the “super easy” zone right this second. The bullish grip on the market has tightened even more.
One decade. One decade has now elapsed between the fabled 666 bottom and now. Think about the world in March 2009. Obama was still finding his way around the White House. Facebook was a private company. Netflix was five bucks a share. And ZeroHedge was just a few weeks old.
And as a surprise to those who might consider me a die-hard permabear, I offer a post from that very day, March 6th, 2009, entitled Tim-Bull – –
This is not to say I’ve gone “all long”. I have, spread out among my accounts, 176 positions. 64 are long, 72 are short, and 40 are options (all of them puts). So on a position-count basis, I am more bear than bull. But on a cash basis, I’m more bull than bear, particularly since some of my long positions are well into the six figures.
Well, there’s nothing official yet (but since when did that stop anyone?) but the rumor that a China/US trade deal is pretty much done in time for a signing ceremony later this month has markets breaking above key resistance levels. As I’m typing this, we aren’t even open 10 minutes, so who knows where this will be at Monday’s opening, but for now, bulls are getting the moment they’ve been waiting for since last September.
Fed Minutes day produced some intraday zaniness. I was basically “checked out” of the insanity all day long, as I chose to do something I hardly ever do, which is to stay completely out of the trading day. I was roaming the chilly streets of Cambridge, Massachusetts, glancing periodically at my iPhone to see what the ES and NQ were doing.
The market was up overall, but we are still completely unresolved. The giant unknown out there remains the Trade Talks, although every blessed day we get some kind of encouraging news about how well they are going (uh-huh). Below I show major indexes and what I consider important areas of resistance (usually horizontals, but sometimes broken trendlines).(more…)