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.

Fib Fans and the Pathway

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A thoughtful Sloper wrote me this morning, pointing out that if you draw fan lines from the peak on 5/2 to the low on 8/9, they provide a very clean target for the "plan (b)" I mentioned in yesterday morning's post.

Now, I am offering this chart two and a half hours before the Euro and ES markets even open, so I'm putting this out there without the hugely important "tell" from those markets. But, again, God hates a coward, so I'm putting a stake in the ground just to be extra-ballsy. Here it is:

0925-pathway

If indeed we do get a push higher, my strategy is simplicity itself:

(a) keep the stops on my shorts wide;
(b) ride the longs higher and dump them once I think we've pooped out on the lift (~1170);
(c) short the living hell out of everything unfortunate enough to have a ticker symbol and be shorter than I've been in ages, covering them in October after the market drops 10%.

618 Days Plus Timing (By eMiniSchool.com)

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8.17DOW7

8.17DOW8

From the March 09' low we are now 618 days into the future and 618 is a key number (.618% or 1.618%). Breaking it down further on the weekly chart we have 127 bars up from the same low and 127 is also a very important number 1.270%.

On the weekly there has been 888 days from the low. So if you take 888 and divide it by 127 you will get 6.99. Take that and square root it a few times and you will get to what? 127 and 127 is how many bars we have had up on the weekly so there is a cluster there on the 127 ratio.

If you break down to the daily chart we have had 618 bars up on 894 days. Also on the daily chart the TR or the Time Retrace is .01274. Notice how on the daily we get a time retrace of .01274 which is very close to the weekly chart numbers of 1.270. Also on the daily we have 7.8517 Ppb (points per bar). Take 7.8517 and divide by 618 and you get .0127 again!

All of these numbers came where? On the move down to symmetry support and we noted the levels ahead of time and none of the markets have closed below the support numbers. In fact, we had a 800 point bounce from the support levels.

We are not saying that the low holds 100% because who really knows for sure but there is a calculation here that we went over so you can do with it what you want. Going back on every major turning point there has been both time and price relevance.

Some people believe and some do not and we are not here to try to convince anyone of anything but we hope you can find some value along the way and apply it to your trading.

Happy Trading,

www.eMiniSchool.com

http://wwweminischool.wordpress.com/

PS. We do have short term resistance from the last high on the 60 minute chart in both time and price as well but it is only 40% so it is not that great but it could get us back down to the 11,000. 

ABX+GDX Calls

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8.15ABX

 

8.15GDX3

We like ABX and GDX both for calls. It is basically the same trade so we would pick which one you like the best. GDX target is $67 on the current leg and ABX target would be $57. There are higher targets but these would be the levels we would look to scale out of the calls.

We had a buy signal last Thursday on both of these stocks but since then they are not up much so they are still valid here.

Short GLD and buy GDX would be a good trade here.

Happy Trading,

www.eMiniSchool.com

http://wwweminischool.wordpress.com/2011/08/16/gdx-sept-62-calls/