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.
If there’s been one sector that’s been a consistent powerhouse ever since the depths of the financial crisis, it is the one probably considered the most humdrum and boring by the public: utilities. I mean, how many people can get excited by an electric company versus, say, GoPro? But one glance at the chart below proves the case – – utilities are up about 170%, throwing off dividends the entire time, and now have exceeded even their long-term ascending channel.
The social media fund, symbol SOCL, has an interesting relationship with its Fibonacci retracement levels. Its current position suggests weakness ahead next week for this sector.
The last time I posted (Nov 29th), I shared the VXV:VIX ratio and suggested that the S&P500 was likely to continue it’s grinding uptrend unless something changed. I also shared HYG as a potential short which I unfortunately missed, but turned out much better than I expected.
As it turns out, the grinding call was the right course of action as the daily 20MA held the following Monday and ground its way back up to the highs again. This past week, price appeared to be doing the same until Tuesday, December 9th which broke the 20MA and delivered a lower low on the hourly charts. Despite the very bullish looking candle, the depth of the decline put me on guard for further selling. (more…)
A couple of drug retailers looked attractive on the short side to me today – – Rite Aid and CVS, each shown here…..for those loony enough to still give shorting a try.
