The entire world was in LOVE with energy up through June 8th. A mere two days later, I did a premium post which stated that, as strong as energy had been, the mere fact that Jim Cramer was a fan was enough for me to commit substantial capital resources to shorting it.(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 past three trading days could not have worked out better. There was the perfect rejection of that resistance level of 4160 noted in my last post after being stuck in a very tight range and a great follow through once breaking down through support at 4080. The Friday close at the 3900 handle was equally enthralling. As most here noted, it is always good to be self-aware of your own excitement, because that is when things seem to turn. However, I’m going to lay out the remainder of my trade targets because it is just starting to get good.
I laid out my analog in the past showing the comparison between this market and previous bear markets. I actually added a few more into my analysis to try to be a bit more thorough (specifically 1968, 1981 and 2018). Each chart below notes 5 major inflection points.(more…)