Slope of Hope Blog Posts

This is the heart and soul of the web site. Here we have literally tens of thousands of posts dating back over a decade. These are listed in reverse chronological order. You can also click on any category icon to see posts tagged with that particular category.

The Star Mattered

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Yesterday when I was doing my live Tastytrade show, I pulled up the XOP and noticed that it was in a shooting star formation. I mentioned off-handedly that “one day does not a trend make”, but I felt it was worth noting (and I mentioned this with similar words in my post last night here). You can see yesterday’s formation quite plainly, as well as what’s going on today………..

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WTIC Oil Churns as World Leaders and Markets Digest Israel’s Report on Iran

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The price of WTIC Crude Oil (CL) continues to churn in a tight sideways consolidation range as markets and world leaders digest Israel’s latest release of information regarding Iran’s nuclear program.

As shown on the following daily chart of CL, it’s still in uptrend on this timeframe, and this latest consolidation zone (green zone) may be a “bull flag” formation…suggesting higher prices ahead. (more…)

Never Sell Oil on Fridays? (by Moneymiser21)

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A well respected Slope trader posted more than once that he never/rarely sells oil futures (/cl) on a Friday.

So with plenty of backtesting to do on this Good Friday, I put that theory to the test, and found there’s a slight edge to that mindset.

The lookback: 5 calendar year 2012-2017.

314 end of week days (sometimes that was a Thursday)

9:00 a.m. EST until 2:30 p.m. EST (old pit hours still the highest liquidity, with 2:30 p.m. still used for settlement) (more…)