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.

Orange, Black, Breakdown, Breakout

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Nonstop rain and flooding this winter (easily predicted by constant coverage of how California was going to be in a century-long-drought at that you-know-who blog) created big delays in airport travel last night, meaning that my pickup of family members at the airport didn’t happen until, oh, three in the morning. Having gone to bed at 4:30 a.m., I’m bright-eyed and bushy-tailed on this pitch-black morning.

Anyway, gold (which I am bearish  by way of a DUST position) is down nearly ten bucks as of this writing. Breaking that blue trendline would be a very good thing.

0221-gold

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Orange is the new Black

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It looks like another day of record highs across the board for equities. I’ve become inured to it by now. I’m particularly focused on what oil is doing, since apparently the OPEC production cuts are enjoying nearly full compliance, which is compelling oil to make yet another trust at the top of its range. It simply cannot seem to escape this very tight range, and OPEC has at a minimum done a great job creating a rock-solid floor for oil.

0210-oil

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T/A and Sentiment in Crude Oil

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It seems that I don’t post very much on oil (or Natural Gas, for that matter).  These are covered each weekend in NFTRH; but yes it’s true, I give oil and energy short shrift in public posting.  Probably because I have other higher priority interests right now.

But a subscriber asked about shorting oil in light of the fading efficacy of the OPEC deal, Elliott Wave’s (I assume he means EWI) apparent target of $56 with a crash due thereafter, and Sentimentrader’s high risk sentiment reading.  So let’s look into it.

WTI Crude Oil is bullish above key support by daily chart.

wtic daily

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