This is truly a nice way to start every day. It’s a shame it can’t persist forever, since there is no such thing as a negative asset price.
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.
That’s Not Funny – That’s Slick!
I start today with the same feeling that I had twenty-four hours ago: delight that crude oil continues to break down. My energy shorts, and most particularly my large Russian short (by way of RSX) require crude sinkage in order to thrive.
I’m most particularly pleased how “classic” crude has been behaving from a charting perspective. (I’ve been harping on this over at Slope Plus a lot). The shooting star, circled below, was a pitch-perfect reversal signal, as was the repulsion from the converging trendlines (tinted).
Crude Humor
Although I am understandably paranoid about days that start off red across the board (since I don’t trust “joy”) I deeply like what crude oil has been doing lately.
Key Downside Reversal for Nat Gas
Let’s notice that today’s action in Natural Gas– a new recovery high at 3.105 followed by a vicious downside reversal and decline to 2.954 so far– represents key downside-reversal action, and at the very least, indicates that the upmove from the April 27 low at 2.44 ended today at 3.10.
