One of my oft-mentioned retail shorts is getting zapped this morning, with Chico’s – – purveyor of fashion to women of a certain age – – off about nine percent. I think it’s got LOTS more to go.
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.
Nailed the Equifax Low
Back on September 15th, I offered up a “dead cat bounce” long idea in the form of battered company Equifax. I wrote, “My opinion is that the company has really screwed the pooch on this one, but maybe, just maybe, it’ll find some temporary support around $90 or so, as I’ve drawn here:” So far, that seems to be the case, up about 20% in just a few weeks:
TBT Advance Gains Momentum
As we noted in our article last week, we have had strong reasons technically as well as from a macro perspective to be bullish on the ProShares UltraShort 20+ Year Treasury (TBT) since its low just under 33 on September 7.
And the TBT has continued to rise since then. It gapped up Wednesday to $35.50 from Tuesday evening’s close at $34.46.
The upward thrust occurred just in advance of the unveiling of the President’s Tax Reform Plan (Wednesday at 3 PM ET), so we have to couch its bullish action under that umbrella. But with lower taxes for most individuals and businesses and a one-time business foreign repatriation tax-break being reasons to anticipate an increase in spending, infrastructure, and investment, higher interest rates likely will be a bi-product of such a policy mix — if tax reform becomes law. (more…)
Wretched Dining
I’ve spent the past few months dissing lame-ass eating destinations such as Cheesecake Factory, Chili’s, and Fiesta Restaurant Group, among others. Here’s a sampling of some of the breakdowns that have been taking place (and I think we’re just getting started).
