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.
Back on June 4th, I suggested that the bloom would soon be off the Elon “the next Steve Jobs” Musk, and that would express itself in the diminishment of price for SCTY and TSLA. As I put it, “One would think the market is trading Elon Musk’s reputation instead of two utterly separate companies, considering how they look like clones.”
Well, TSLA moved higher after my post, but then ultimately headed lower (I’ve marked the post date with an arrow).
It’s heartening to see classic technical patterns paying off again. Yesterday morning, I made great profits covering my shorts in MTW, WDC, and STX. This mornings big winner is Quanta Services, which is down nearly 20%. Central bankers or no central bankers, earnings (and patterns) still matter!
Well, all you bears have me to thank again, since my trip to Atlanta, Georgia has caused the market to complete reverse itself. The jobs report had a little to do with it too, because here’s the situation we’re in folks:
(1) Interest rates are at zero;
(2) The Fed’s credibility equals Yellen’s likelihood of being the next cover girl of the Sports Illustrated swimsuit issue;
(3) The economy is, quite evidently, beginning to poo all over itself again.
Thus, my relentless expression: “the wind is at our backs” holds sway once more.
