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.
Very Interesting URE Development
There are few chart events as interesting to me as failed patterns – that is, clearly defined patterns that are supposed to do one thing but crackle into doing something else.
The ultra-bull real estate ETF, symbol URE, is doing this right now. Because, here we are, on the first day of the new year, with the bulls stampeding all up and down America. Indexes are exploding higher. Happy days are here again.
But URE, in spite of an initial lift, is actually down over 1% as I'm typing this (and, in turn, SRS – everyone's favorite widow-maker – which I bought earlier today – is up over 1%).
For real estate to be moving so contrary to the market as a whole is terribly interesting.
Real Estate Chart Bull and Bear
I've mentioned URE (the ultra-bull real estate ETF) many times recently. To my eyes, this is one of the nicest charts I've seen in a while.
However, I put more credence into what the "normal" market is doing (not the "ultra" ETFs, which offer a distorted view, by their very nature). Looking at IYR, it seems to me that, yes, there may be some more upside here (green tinted area), but the risk is starting to outweigh the potential reward. I would get anxious to take profits in real estate holdings if IYR breached into the lower 50s anytime soon.
URE Merits Another Mention
I'm starting to wonder if I should more aggressively pursue the domain WallOfWorry.com since I keep focusing on bullish ideas instead of bearish ones. Anyway, I bought a largish block of URE earlier today. My chart-brain (bullish on this) conflicts with my state-of-the-world brain (real estate?!?!!?!?!?), but this is one of the finest charts I've seen in a while. A break above $6.99 would totally seal the deal.
Real Estate!?!?!?
It seems hard to believe, but one of the nicest patterns forming up right now is URE, the ultra-bullish real estate ETF. We are living in very strange times.
