I was saying yesterday morning that coming into Fed day just under clear pattern resistance augured badly for bears, and so it turned out. After a test break above SPX falling channel resistance SPX pulled back, made a new RTH low immediately after the Fed announced tapering to start in January, and then broke up for a massive short covering rally as people realized at last that cutting bond purchases from $85bn to $75bn per month wasn’t really much of a change after all. The move from the post Fed low into the high just before the close was an impressive 45 handles as a lot of traders were forced to eat their shorts. (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.
The Fed Big Guns
Politics is the art of looking for trouble, finding it everywhere,
diagnosing it incorrectly and applying the wrong remedies. – Groucho Marx
Just a short post today as I am having fairly serious computer troubles since yesterday afternoon. I suspect my hard drive is failing, so I have a new one arriving tomorrow which I can install at the weekend. In the meantime I’m expecting my main trading computer to crash several times a day which is time-consuming. (more…)
One Thing Ugly Can’t Cure
As the new Anti-Christ, the disgusting and demonic Janet Yellen hopes to totter her way into glory by enjoying the same free ride the soon-to-be-former Anti-Christ, Benjamin {Middle Name Redacted for the Sake of Political Correctness} Bernanke enjoyed: specifically, to puke $85 billion per month (or more) into the market, keeping the sheeple shut up and the rich ever-richer. (more…)
What’s Next for the Fed?
Janet Yellen Nails It
From an earlier post by Biiwii.com guest Doug Noland:
Senator Dean Heller: “A quick question about quantitative easing: Do you see it causing an equity bubble in today’s stock market?” (more…)
