The RTT Market Timer highlights signs of strength (SOS) in the SP500 that usually result in a change in trend from bearish to bullish. The Richard Wyckoff way to select the leading sectors, then the leading stocks. On the charts below are colored triangles, the reader must understand not all are selected for trading, each is judged on its merits and the news of the period. Site members are of course free to act as they wish. (more…)
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.
Biotech Trading: How to Trade ASCO 2013
“Keep
up the good work,” a reader kicks off. “I made a profit on 235% on MAPP
and 176% profit on ISIS calls.”
To
that, I say thank you… and offer a hearty congratulations.
It’s
our hope to provide even more explosive gains especially as we head into ASCO
2013, or the American Society of Clinical Oncology meeting held every year.
Every
one knows nothing has the power to send a biotech to the moon like the FDA.
Unless
that biotech is presenting at the annual American Society of Clinical Oncology
Conference (ASCO)
Are New Highs Bullish or Bearish?
It is widely accepted as common knowledge in trading that new highs in
securities such as stocks, bonds or commodities (or any index for that
matter) is a bullish technical event. The simple logic behind it is
that when a stock makes a new high, everyone holding the stock at that
point is profitable and therefore, you don’t have any remorseful buyers
sitting at a loss, praying for the stock to get back to their entry
point so they can sell and just breakeven.
However, there are times when breakouts to new highs can actually be
very bearish technical events. This is most often the case during
topping phases in the markets when the institutions (smart money) are
handing the bag to the retail traders or investors (often referred to as
the dumb money)….no hate mail please as this is just a general term and certainly does not apply to yours truly or anyone reading this post!
$SPX Top Sectors Overview
Here’s a look at the daily & weekly charts of the three largest
sectors in the S&P 500 index; technology, financials and health
care. These top three sectors make up nearly 1/2 of the index so where
they go, the market likely follows. As you can see below, all three are
at or approaching key levels.
Updating the HUI-SPX Ratio
There were reasons for the mind numbing gold stock correction out of
the hysterical events of the 2011 Euro-led meltdown and its aftermath.
Take your pick…
- + Too many lousy gold mining operations not keeping on top of costs and/or execution projections.
- + Too many scammy smaller operations doing little more than issuing stock and telling stories needed to be weeded out.
- + Over bullish sentiment was that this time the gold bug true
believers really were going to take Hamburger Hill as Europe’s implosion
would be taking down the rest of the civilized world. - + Highly strategic yet indirect manipulation of the gold miners’
product – a barbarous relic not welcome in an economic discussion by
today’s monetary policy setting intellectuals – by a very overt
(publicized) manipulation of the Treasury yield curve in Operation
Twist. I will spare you another chart of gold’s correlation to the
curve.
