As a follow-up to my bullish post on Bitcoin, which is up about 50% since I wrote about it, my view is that we’re going to encounter some serious resistance soon: somewhere around the psychologically-important $6,000 level.
Just a Bit 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.
Retail Bomb
Past-Tints
Reflecting back on my “Four Tints” from early this morning, I had pointed out this bullish setup:
Hey, MO!
Altria Group – – cynically renamed to conceal their actual identity as a manufacturer of cancer-causing tobacco products – – has been a short I’ve recommended (along with fellow creator-of-human-misery PM) for quite some time. Its head and shoulders pattern is absolutely massive, and, believe it or not, my target price is $32 – – basically a financial catastrophe. Couldn’t happen to a nicer bunch of guys, either.
Nostradamus
Back on December 26th, I did a premium post called A Musing which stated three things:
- I had dumped almost all my positions;
- I anticipated a rally to 2600;
- the empty-headed optimism of the new year, coupled with trade talks scheduled for the week of January 7th, would provide the necessary fuel for the market to take on what, back on the 26th, seemed like an impossibly swift ascent.
If – – and I repeat, if – – 2600 turns out to be the turning point, the post will have to go down as genius-level in terms of its prescience, accuracy, and clairvoyance (which will make the fact I have traded like a goddamned moron since then less damaging). Today we peaked just a couple of points beneath that level – literally 99.3% of the way there – so if we slip from here, good God, that will be breathtaking.
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