I haven’t traded oil in a long time, but I am newly-intrigued by this chart. It looks like the most likely path is downward………
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.
Be A Lover Not A Fighter
It feels good to be back posting on Tim’s blog again. I will try to throw one or two posts up a week going forward.
Right now we are all on top watch, but even though the taper is in full swing, and POMO is only going to be three days a week in July, the charts sure don’t look like a top to me. Both SPY and QQQ’s went back in buy mode for me this week, so I don’t feel like being a hero trying to catch a reversal, but looking to follow what the market is starting to recognize, and buy; basic materials. (more…)
Hopping Aboard the Inflation Express
My “balanced” Slope of Hope continues with another bullish idea – commodities. That is, symbol DBC, shown below, which I am long. In spite of what your government is telling you, inflation is heating up, and as the central banks of the world force their servants/masters (the big banks themselves) into spewing ever-more cash into the economy, you’re going to see this launch like a rocket.
Down on the Farm
Back when people thought the hostilities in the Ukraine would matter (ha! ha ha!) commodities skyrocketed. Well, the descending trendline that has been in place for a decade did a yeoman’s job of nailing the precise top. Back down we go……….
