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 went through my 28 index charts, hiding everything EXCEPT for the standard three moving averages (50, 100, and 200 day exponential). The vast majority of them look something like this since, as lagging indicators, they are reflecting the risible rise in assets for the first seven preposterous months of 2023 and will continue to do so until the crumbling becomes clear.
The VIX spent eight full weeks dicking around below the horizontal line I’ve drawn, persistently trying to get volatility to stay in the sub-teens. I sure hope we’re done with that nonsense, because, let’s face it, a 12-handle VIX sucks!
Today was the 11th goddamned day in a row. that the Dow Industrials went up. Eleven. Consecutive. Days. Can you IMAGINE the kinds of Congressional hearings that would be called if the Dow went DOWN eleven days in a row? I can’t. Because it would never happen.
Part of my own abandonment of the completely corrupt U.S. markets is the fact my biggest position, by far, is my long January puts on EFA, the worldwide equity ETF for all NON North American stocks. Nothing dramatic so far, but I’ve still got serious faith in this sucker.
In my newly-lean portfolio of a mere 8 positions (2 ETFs, 6 stocks, all based on long puts) one of the newer ones is Bank of America (BAC). I don’t tend to use indicators in my analysis, but in this instance, I’ve provided some interesting selections with BAC in the captions below:
This was going to be too long for a comment so here is a quick post.
I have read dozens of books about trading and have used all the indicators out there. I have also listened
to many people here and have tried many traders styles. Some I have incorporated into my own system that I liked. I heard both Sniper and AWC both say the same thing, all that matters is support and resistance so that burned in to my head.
For day trades I noticed something I hadn’t paid close attention to. First always remember the trend dictates whether you should be long or short and you must, MUST lose any bias you have for the current market and economic conditions or general news. Last year was to look for shorts, but this year it is looking for longs. That could change next week and you MUST change with them.
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