An ES up over 50 points. An NQ up over 200. It was an absolute mauling of the bears today, .as the bulls celebrated – – umm – – the Democrats taking over the House? I guess that was it. In any case, fear absolutely left the building, as shown by the VIX;
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.
Lines Trampled
The bulls have absolutely trampled the bears today. I’m proud of the fact that I suggested ERX, XLB, KBE,and some other longs near the end of October at what turned out to be great prices. I’m not so proud of the fact that, personally, I sold them only a few days later! Because it’s clear that “the bounce” is still going on, nearly two weeks strong now.
A number of horizontal lines have been simply blown away. As I’m typing this, the Dow is up well more than 300 points, the ES over 40, and the NQ over 150. It’s quite a bonanza for the bulls, particularly considering the House is back in Democratic hands. So the “last lines standing” are shown below for the Dow Jones Composite:
Three Little Words
Lifetime. Highs. Everywhere.
For the most bearish month of the year, September is doing one lousy job. I guess all the chatter you’ve seen here on Slope about 3000 on the S&P (not from me…) might just materialize sooner than imagined. But just look at these……..
V as in IrreleVant
Well, for our latest Total Waste Of Time, may I present to you the past twenty-four hours:
What’s Bigger Than a Bubble?
I spent a lot of time recently looking at the long-term index charts. We’re all familiar with the history of the Internet Bubble and the Housing Bubble. How gigantic they were, how they were fueled by puffery or outright lies, and how the housing bubble in particular was made possible through completely bogus credit ratings. Both of these prior bubbles were powered by Alan Greenspan and his multi-trillions of largesse, and they both had historic wipeouts.
But what struck me – – really, really stuck me – – was how PUNY those two bubbles were compared to the ascent we’ve seen over the past nine years. I mean……..just look at this!
