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.

Redemption

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I’m doing this from a parking lot, so it’s going to be brief.

I’ve noticed a variety of (vastly inferior) chartists have been pushing the notion that “the mother of all trendlines has been broken.” WRONG, WRONG, WRONG. It has NOT. These nitwits can’t draw a line to save their lives. Anyway, take it from your permabear buddy, no one WANTS this line broken more than me, but it ain’t broken yet. If anything, bulls should be arguing for a major bottom here. I assure you, if it actually does break, I will NOT shut up about it.

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Making Bank!

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Wow, what a fantastic morning! I’ve been nursing these banking puts, and they are really starting to fly! It totally makes sense that every single idea I’ve offered is an absolute home run, and I’ve got to beg people for a few pennies to subscribe, while Cathie D. Wood has lost 40% in the past three months and manages billions, plus is on television every day. Yep. Clown world. Anyway. I remain deliciously unpopular, so I anticipate global worldwide cataclysm.

Good.

FITB
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Tesla: The Day After

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My decision to buy puts on Tesla on Wednesday was a good one, to put it mildly. They were up 21% at the close, and I was really questioning my sanity about holding them into earnings. My fears were quickly displaced as the stock went into a post-conference-call free-fall. I was most particularly proud of stating in advance of earnings that the first target was $220, and, BANG, we met (and exceeded) the target the very next day! A 45% profit for an overnight trade suits me just fine.

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Doth My Eyes Deceive Me? (by Xerxes)

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I had a post last week which I mused the possibility of repeating the rejection pattern we saw early 2022, specifically the initial breakdown week and subsequent bounce and retest underneath the 20 week MA. We (so far) have been putting in an almost identical weekly rejection (even this week’s large upper wick) with a red candlestick body basically undoing the prior week’s bullish green candle. Well, it is Thursday and so far, so good.

SPX Weekly
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Easy and Cheesy?

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On Tuesday and Wednesday (both here and multiple times on tastylive) I pointed out how Tesla was coming to a day of reckoning. On the one hand, it was trying to conquer its trio of Fibonacci retracements, and on the other, it was slightly damaging its year-long ascending trendline. I pointed out that one thing that favored the bears was that we had been making lower highs, and the trendline already was fractured, which “opened us up to a trip to the next Fib support at 220.” I bought puts yesterday, which at the close were up 20%.

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