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.
Well, I’m getting my feet back underneath me this morning. My biggest sigh of relief has to do with the metals & mining ETF, symbol XME, against which I’ve got a gazillion puts. The ETF is down over 4%, and its recent strength merely accomplished one thing: yet another lower high.
Each of the charts below had a clean, strong bullish setup. And in every instance, they have been breaking down. In other words, they are not doing what they are supposed to do. This, I believe, is symptomatic of the rot beneath the surface. What “should” be happening, even on the long side, simply isn’t transpiring.
Well, this was a bit of luck. Yesterday, I took note of the insanely large topping pattern on Pitney Bowes (PBI). And when I say large, I mean large: the topping pattern literally spans a quarter of a century. So I shorted it, and today it started to fall to pieces, losing about a quarter of its value. Huzzah! Another victory for SlopeCharts.
I’ve mentioned my put position on XME. This morning, I took advantage of weakness earlier and sold my January puts so that I only have March now. I intend to double this March position in the near future. The reason is simple: I think this beast is heading much lower, but it moves with the speed of Oprah Winfrey at the 24th mile of a Marathon.
As we push toward the thick of the earnings season, here are a couple of securities getting a lot of attention:
