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.

Fun-B-Gone

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0613-escaledWell, wouldn’t you know it? The moment I’m starting to really enjoy trading again, along comes the biggest up day of the year. A major reversal in the ES and the NQ, apparently prompted by little more than the fact that the Japanese Yen stopped gaining value. Incredible.

The area around 1600 is representing very firm support for the market right now. That was our “breakout” area weeks ago, and twice now we’ve challenged the same zone, confirming it as support both times. What’s especially interesting about this level is that it also coincides with the ascending supporting trendline of the channel I’ve drawn. If, God willing, the ES breaks 1600 and can actually stay beneath it, that suggests a pretty important violation of support. But it hasn’t happened yet, so the support stands. (more…)

The Slope of Nope

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Could they make it any more obvious? Disappointment is the diet of the bears, three square meals a day.

Every time there’s any weakness, it is reversed within half an hour. It’s becoming as predictable as it is nettlesome.

I have – somehow – managed to stay in the green so far all day, in spite of an entirely-short portfolio, but the day’s earlier profit figure has definitely gone on a Slim-Fast diet. In any event, the Fed-controlled market remains in Fed control, “tapering” or not………

0513-es

Big Round Numbers

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Ugh.

Well, we’ve crossed 15,000 on the Dow and 1,600 on the S&P. The bulls are understandably thrilled.

I’ve been quiet this morning. One might assume I’ve been hiding under my bedsheets. Tempting as that is, I’ve actually been busily getting my family dispatched to various and sundry transportation depots; I’ll be joining them this afternoon after the markets close.

I’m not going to be very prolific today (unlike yesterday, when I was cranking out posts left and right), but I’m going to publish my “big post” late this afternoon, after I give people a while to get sloshed at the virtual bar.

Hang in there, everyone, and congratulations to the bulls. You guys are buying drinks tonight.

0503-fiften