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.
Facebook Soars to Gap
I don't trade Facebook, but I do like to check the social networking stocks periodically. FB has soared about 40% in just the past couple of weeks, but I think caution is warranted as it approaches a major gap, highlighted with the horizontal line below.
Apple Rushes to Fill the Gap
Apple was a major beneficary of the mad rush-to-buy that took place today. Its gap is just about closed, and I haven't seen an up-spike like this in Apple for ages. To quote ZeroHedge:
Today's AAPL move, on no news, is as of this moment a $35+ move in one trading session, or a $30+ billion market cap move in one trading session, and a nearly $60 move from the Friday lows. As the histogram below shows, in absolute terms, this is the second largest intraday move up in the stock in the past two years, and a 4 sigma move for a stock which has moved 7% on a 1.7% standard deviation, for no other reason than the "stock is oversold" or whatever other narrative those who put narratives to stock moves have ascribed to it today.
Return of the Skanky Short
Long-time Slopers know that Abercrombie & Fitch is one of my favorite stocks to short. I've stayed out of it for the past few months, but after yesterday's huge pop, I decided the opportunity was presenting itself again. I shorted some today, although there's still a little more room between the present price and the gap, tinted in green.
