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.
I realize how insane shorting anything must seem now, but I offer to you three charts with gargantuan tops that, thanks to recent price ascents, have intriguing risk/reward ratios. I’ve got puts already on NOW and MDB and am going to hold off on TTWO for now, waiting for a move closer to the gap.
Advanced Micro Devices (AMD) is having a good day, after their earnings report last night, but it might be setting itself up for another fall if it can hack its way back to its price gap.
Since we haven’t had a single downtick since October 14th, I wanted to show that there is still one flickering ember of hope for any bears out there, which is the September 12/13 gap that appears on a variety of important ETFs. Below are my three favorites, and in each case, the red horizontal line is anchored to the aforementioned price gap. As always, click on a chart to see a screen-filling version.
Back on October 18th, I wrote a bullish post about Netflix (NFLX) in which I said the stock “seems on solid ground for its breakout” and that “it looks like the “gap-traverse” is definitely in play.” The traverse is about 60% done, so it’s got more room to the upside, but it’s getting closer and closer to its exhaustion point.
This morning, GM reported their earnings, and they jumped higher. I would like to point out, however, that the trading over the past month or so bears a strong resemblance to a prior instance, and that todays’ push higher has neatly sealed up an important price gap. The point being that – – this is probably about all the upside it’s got.
