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.

Finally, Some Crude Love

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Crude oil is a very big deal to me, and its surging strength lately has been just one of many dismal things on my mind. In spite of this, I went out on a limb yesterday with this post saying that energy stocks were just begging to be shorted. Well, since God still has an ounce of mercy left for this beleaguered soul, the crude oil report this morning has sent crude tumbling and, with it, energy stocks. I’m pleased to point out on the chart below with an arrow exactly where the “short energy” post went out yesterday.

1104-crude

USO Long (by Retracement Levels)

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(Note from Tim: 2sweeties is resuming more frequent posts here on Slope, and this is another. With all humility, and mainly because I’m talking my book here, I disagree with a bullish disposition toward crude oil, but Lord knows I’ve been wrong on occasion before. Here ya go:)

This trade could work as quick trade with a target around ~16, but if after that you want to hold with a Trailing Stop in the hope of a much larger uptrend… you can do that, maybe you are lucky and it works.

To find where to exit our trades, we usually check the opposite model direction, for example if you enter a trade LONG with the LONG model, then you can use the SHORT model to know where to exit and take profit.

Let’s have a look to USO’s DAILY chart:

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