I have puts in both GOOG and BIDU. Today was better for the former.
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http://slopeofhope.com/ImageProxy?imageid=997&state=original&height=600&width=600
http://slopeofhope.com/ImageProxy?imageid=997&state=present&height=600&width=600
And another of the four horseman, RIMM, has failed its bullish breakout - - often a good sign for us bears.
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http://slopeofhope.com/ImageProxy?imageid=998&state=present&height=600&width=600
Dick Cheney-land, Halliburton, is a new short for me today.
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http://slopeofhope.com/ImageProxy?imageid=999&state=original&height=600&width=600
http://slopeofhope.com/ImageProxy?imageid=999&state=present&height=600&width=600
I used to be excited about LNN, but this chart just isn't acting right at all. I may bag this one.
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http://slopeofhope.com/ImageProxy?imageid=1000&state=original&height=600&width=600
http://slopeofhope.com/ImageProxy?imageid=1000&state=present&height=600&width=600
Lastly, SLB is behaving itself beneath resistance, and I could see this easily getting down to $80.
Lastly, SLB is behaving itself beneath resistance, and I could see this easily getting down to $80.
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http://slopeofhope.com/ImageProxy?imageid=1001&state=original&height=600&width=600
http://slopeofhope.com/ImageProxy?imageid=1001&state=present&height=600&width=600
Thanks for all the nice comments and emails about the prior post; they are much appreciated! Good night.
Posted: 02:55 下午 | Comments (View) | Permalink
五月 29, 2008 - 02:38 下午Oil Helps OutCrude oil, which is on the nation's mind like never before, softened up enough today do my puts some good. I am generally short most major items related to oil, gold, and agriculture. We had similar dips in crude oil in late March and late April, both of which were followed by pushes to new lifetime highs, so I am not saying the past few days are game-changing. But at some point this bull trend will be broken.
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http://slopeofhope.com/ImageProxy?imageid=916&state=original&height=600&width=600
http://slopeofhope.com/ImageProxy?imageid=916&state=present&height=600&width=600
I mentioned yesterday that I closed out my XAU puts. That was obviously early, and it's a shame that the huge bid/ask spread was the major reason for my wanting to close them out. Oh, well. I could see this easily heading to $160 and maybe even lower.
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http://slopeofhope.com/ImageProxy?imageid=934&state=original&height=600&width=600
http://slopeofhope.com/ImageProxy?imageid=934&state=present&height=600&width=600
My NASDAQ puts are pretty deeply in the red. I am watching $MSH closely. If it pushes past 625, this trade is shot.
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http://slopeofhope.com/ImageProxy?imageid=933&state=original&height=600&width=600
http://slopeofhope.com/ImageProxy?imageid=933&state=present&height=600&width=600
Crude's weakness translated into strength for the transports. This index is within a hair's breadth of a new historical high.
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http://slopeofhope.com/ImageProxy?imageid=932&state=original&height=600&width=600
http://slopeofhope.com/ImageProxy?imageid=932&state=present&height=600&width=600
Apple remains one of my favorite puts, particularly in light of its relative weakness to the broad NASDAQ today.
Apple remains one of my favorite puts, particularly in light of its relative weakness to the broad NASDAQ today.
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http://slopeofhope.com/ImageProxy?imageid=917&state=original&height=600&width=600
http://slopeofhope.com/ImageProxy?imageid=917&state=present&height=600&width=600
CNQ is just one example of the formerly hot ag-related securities that are softening up.
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http://slopeofhope.com/ImageProxy?imageid=918&state=original&height=600&width=600
http://slopeofhope.com/ImageProxy?imageid=918&state=present&height=600&width=600
I mentioned $250 as a key breaking point for FSLR (which has fallen am amazing 65 points in just a couple of weeks). We're very close.
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http://slopeofhope.com/ImageProxy?imageid=920&state=original&height=600&width=600
http://slopeofhope.com/ImageProxy?imageid=920&state=present&height=600&width=600
Both Baidu (BIDU) and Google (GOOG) are also tantalizing at these levels.
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http://slopeofhope.com/ImageProxy?imageid=921&state=original&height=600&width=600
http://slopeofhope.com/ImageProxy?imageid=921&state=present&height=600&width=600
Baker Hughes (BHI) is a pretty sweet short with a stop at $90.
Baker Hughes (BHI) is a pretty sweet short with a stop at $90.
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http://slopeofhope.com/ImageProxy?imageid=922&state=original&height=600&width=600
http://slopeofhope.com/ImageProxy?imageid=922&state=present&height=600&width=600
The broad OIH has had an amazing run this year. A true tumble in crude might bring this down to the $150 level.
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http://slopeofhope.com/ImageProxy?imageid=923&state=original&height=600&width=600
http://slopeofhope.com/ImageProxy?imageid=923&state=present&height=600&width=600
I don't know if I've ever trade OSTK before, but I entered a new position in it today (short).
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http://slopeofhope.com/ImageProxy?imageid=924&state=original&height=600&width=600
http://slopeofhope.com/ImageProxy?imageid=924&state=present&height=600&width=600
Another new position for me is VMI, which is forming a broadening top.
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http://slopeofhope.com/ImageProxy?imageid=925&state=original&height=600&width=600
http://slopeofhope.com/ImageProxy?imageid=925&state=present&height=600&width=600
I also entered AGN today based on its push higher today, since the risk is lower at these levels. My stop is at $58.
I also entered AGN today based on its push higher today, since the risk is lower at these levels. My stop is at $58.
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http://slopeofhope.com/ImageProxy?imageid=926&state=original&height=600&width=600
http://slopeofhope.com/ImageProxy?imageid=926&state=present&height=600&width=600
CERN is falling away nicely from the horizontal line you see here.
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http://slopeofhope.com/ImageProxy?imageid=927&state=original&height=600&width=600
http://slopeofhope.com/ImageProxy?imageid=927&state=present&height=600&width=600
And Fastenal (FAST) was a new short for me today, again based on the lower-risk entry point. There is a lot of resistance in the $50-$52 range.
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http://slopeofhope.com/ImageProxy?imageid=928&state=original&height=600&width=600
http://slopeofhope.com/ImageProxy?imageid=928&state=present&height=600&width=600
Finally, a couple of steel-related issues on the short side.
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http://slopeofhope.com/ImageProxy?imageid=930&state=present&height=600&width=600
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http://slopeofhope.com/ImageProxy?imageid=931&state=original&height=600&width=600
http://slopeofhope.com/ImageProxy?imageid=931&state=present&height=600&width=600
While I am encouraged at crude oil's weakness, I gotta say, if Friday isn't a down day on the indexes, I'm going to be pretty disappointed with this week. Today's firmness in equities are disquieting, although at least a portion of it was lost in the final 90 minutes of the trading day. See ya Friday!
Posted: 02:38 下午 | Comments (View) | Permalink
五月 19, 2008 - 03:03 下午Nerve-Wracking
http://slopeofhope.com/ImageProxy?imageid=811&state=original&height=600&width=600
http://slopeofhope.com/ImageProxy?imageid=811&state=present&height=600&width=600
This chart still intrigues me. If we break 170 hard, this could get exciting again.
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http://slopeofhope.com/ImageProxy?imageid=812&state=original&height=600&width=600
http://slopeofhope.com/ImageProxy?imageid=812&state=present&height=600&width=600
Transports made a new never-before-seen-in-history high today, but gave up virtually all of it. Check out the shooting star on this baby.
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http://slopeofhope.com/ImageProxy?imageid=814&state=original&height=600&width=600
http://slopeofhope.com/ImageProxy?imageid=814&state=present&height=600&width=600
Pitifully, I remember the days when I was short OIH and had 192 as my stop loss. Here we are at nearly $220. It's getting awfully close to that Fib fan, don't you think?
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http://slopeofhope.com/ImageProxy?imageid=816&state=original&height=600&width=600
http://slopeofhope.com/ImageProxy?imageid=816&state=present&height=600&width=600
Speaking of shooting stars, here's another beaut - - the S&P 500. Don't get me wrong; the markets aren't acting bearish. But this bull is sure looking weary.
Speaking of shooting stars, here's another beaut - - the S&P 500. Don't get me wrong; the markets aren't acting bearish. But this bull is sure looking weary.
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http://slopeofhope.com/ImageProxy?imageid=817&state=original&height=600&width=600
http://slopeofhope.com/ImageProxy?imageid=817&state=present&height=600&width=600
I'm the unfortunate holding of DUG right now, and it's been pathetic. We're scraping the bottom of that sloping support line, as you can see. And the explosion in volume over the past few months is amazing.
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http://slopeofhope.com/ImageProxy?imageid=818&state=original&height=600&width=600
http://slopeofhope.com/ImageProxy?imageid=818&state=present&height=600&width=600
Now on to a few equity shorts. ABT is pushing up against a major broken trendline.
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http://slopeofhope.com/ImageProxy?imageid=819&state=original&height=600&width=600
http://slopeofhope.com/ImageProxy?imageid=819&state=present&height=600&width=600
Albemarle (I have no idea what they do, and couldn't care less.......) is in a similar pattern.
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http://slopeofhope.com/ImageProxy?imageid=820&state=original&height=600&width=600
http://slopeofhope.com/ImageProxy?imageid=820&state=present&height=600&width=600
Bottom-fishing is dangerous, but there are a handful of stocks that look intriguing for a bullish play. IFC is one of them.
Bottom-fishing is dangerous, but there are a handful of stocks that look intriguing for a bullish play. IFC is one of them.
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http://slopeofhope.com/ImageProxy?imageid=821&state=original&height=600&width=600
http://slopeofhope.com/ImageProxy?imageid=821&state=present&height=600&width=600
Akamai (AKAM) is really interesting, its price approaching two important levels of resistance.
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http://slopeofhope.com/ImageProxy?imageid=822&state=original&height=600&width=600
http://slopeofhope.com/ImageProxy?imageid=822&state=present&height=600&width=600
And our buddy AAPL, whose puts made some people some green today (and I got a few thank-yous on that; you're certainly welcome).
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http://slopeofhope.com/ImageProxy?imageid=823&state=original&height=600&width=600
http://slopeofhope.com/ImageProxy?imageid=823&state=present&height=600&width=600
CELG could be in the early throes of a nice drop, with a clean stop around $66.
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http://slopeofhope.com/ImageProxy?imageid=824&state=original&height=600&width=600
http://slopeofhope.com/ImageProxy?imageid=824&state=present&height=600&width=600
I've got puts on Coach (COH), which also has a clean stop around $38.
I've got puts on Coach (COH), which also has a clean stop around $38.
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http://slopeofhope.com/ImageProxy?imageid=825&state=original&height=600&width=600
http://slopeofhope.com/ImageProxy?imageid=825&state=present&height=600&width=600
Solar stocks aren't looking too great these days, and my puts had a nice little uptick today on First Solar.
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http://slopeofhope.com/ImageProxy?imageid=826&state=original&height=600&width=600
http://slopeofhope.com/ImageProxy?imageid=826&state=present&height=600&width=600
I'm not sure what's in store for investment banks, but I've put my neck out on puts for one of them - - Morgan Stanley. This isn't a bad head and shoulders pattern.
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http://slopeofhope.com/ImageProxy?imageid=827&state=original&height=600&width=600
http://slopeofhope.com/ImageProxy?imageid=827&state=present&height=600&width=600
Google was relatively weak all day, even when the market was very strong. I've got a stop on this one at $592.
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http://slopeofhope.com/ImageProxy?imageid=828&state=original&height=600&width=600
http://slopeofhope.com/ImageProxy?imageid=828&state=present&height=600&width=600
Finally, Lindsay, which I don't think I've ever mentioned before. I shorted this one earlier today.
Finally, Lindsay, which I don't think I've ever mentioned before. I shorted this one earlier today.
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http://slopeofhope.com/ImageProxy?imageid=829&state=original&height=600&width=600
http://slopeofhope.com/ImageProxy?imageid=829&state=present&height=600&width=600
Suffice it to say I ended the day more cheerful than I was a few hours before. I hope to hell things start to turn around. Otherwise, I'm going to have to make more flying contraptions.
Posted: 03:03 下午 | Comments (View) | Permalink
五月 14, 2008 - 07:15 上午Strong Stocks, Weak OilThis morning's CPI number gave the bulls a sigh of relief, and the markets opened solidly higher. As of this writing (only 20 minutes into the open), the IWM has solidly closed the gap it created back on January 4th. By the time you read this, it may have soared past that horizontal resistance line. The Dow is already up into the triple digits. Fun, fun, fun.
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http://slopeofhope.com/ImageProxy?imageid=781&state=original&height=600&width=600
http://slopeofhope.com/ImageProxy?imageid=781&state=present&height=600&width=600
By contrast, gold and (more so...) oil are weaker as of this moment. I guess the feeling that's starting to spread is that if oil falls, that will be a great catalyst for equities to explode higher. In other words, expensive oil is the only thing holding them back. I am thus highly concentrated in oil-related shorts and avoiding index plays.
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http://slopeofhope.com/ImageProxy?imageid=780&state=original&height=600&width=600
http://slopeofhope.com/ImageProxy?imageid=780&state=present&height=600&width=600
Posted: 07:15 上午 | Comments (View) | Permalink
五月 07, 2008 - 05:38 下午Nice.I haven't plugged my book, , in a while, so - there - I just did. If you use ProphetCharts, you should seriously consider it. I think you'll find the to be overwhelmingly positive. Check it out!
All right, on to the markets. The best news to me today wasn't whacking 200 points off the Dow or the big surge in my portfolios (which, ahem, my even suggesting that was a good sign, eh?) The best news was the divergence in where crude oil is heading versus where all the oil-related stocks are heading. In other words, we've got crude oil which went on to its umpteenth never-before-seen in human history high price............
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And yet oil-related stocks, which to date have wallowed around in bathtubs full of gold coins during this entire melt-up, didn't have the power to participate anymore.
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http://slopeofhope.com/ImageProxy?imageid=736&state=original&height=600&width=600
http://slopeofhope.com/ImageProxy?imageid=736&state=present&height=600&width=600
So..........perversely.......my position in the double-inverse oil & gas fund actually had a great day!
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http://slopeofhope.com/ImageProxy?imageid=737&state=original&height=600&width=600
http://slopeofhope.com/ImageProxy?imageid=737&state=present&height=600&width=600
My point is that my abundance of oil and commodity related items is well-positioned to benefit from this divergence. Because if they fall on a strong day for crude, can you imagine the damage waiting for them when crude falls? (And, yes, it will fall; nothing goes up forever).
Likewise, my $XAU position did pretty well. The formation for 2008 is very similar to the smaller one spanning October-December 2007 (which didn't amount to anything), but a break from this pattern downward would easily send the $XAU to the mid-$150s.
My point is that my abundance of oil and commodity related items is well-positioned to benefit from this divergence. Because if they fall on a strong day for crude, can you imagine the damage waiting for them when crude falls? (And, yes, it will fall; nothing goes up forever).
Likewise, my $XAU position did pretty well. The formation for 2008 is very similar to the smaller one spanning October-December 2007 (which didn't amount to anything), but a break from this pattern downward would easily send the $XAU to the mid-$150s.
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http://slopeofhope.com/ImageProxy?imageid=741&state=original&height=600&width=600
http://slopeofhope.com/ImageProxy?imageid=741&state=present&height=600&width=600
And - tip of the hat to Jana - China is finally starting to get kicked around again. It was the best down day in seven weeks. A monster bearish engulfing pattern. A break below $212 (far away, I confess) would be highly destructive to this index.
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http://slopeofhope.com/ImageProxy?imageid=738&state=original&height=600&width=600
http://slopeofhope.com/ImageProxy?imageid=738&state=present&height=600&width=600
I've been contending recently the $XBD had peaked out. For now, that seems to be the case. Just look at that sweet set of descending scallops.
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http://slopeofhope.com/ImageProxy?imageid=739&state=original&height=600&width=600
http://slopeofhope.com/ImageProxy?imageid=739&state=present&height=600&width=600
And - perhaps my favorite pattern of all - the $MSH is obediently staying beneath that not-quite horizontal line you see below. A fully materialized head and shoulders breakdown would send this at least a hundred points lower.
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http://slopeofhope.com/ImageProxy?imageid=740&state=original&height=600&width=600
http://slopeofhope.com/ImageProxy?imageid=740&state=present&height=600&width=600
I entered a put position on the S&P relatively early today, and it's nicely in the green. Perhaps 1423 is as high as this retracement is capable of carrying the market. I sure hope so.
I entered a put position on the S&P relatively early today, and it's nicely in the green. Perhaps 1423 is as high as this retracement is capable of carrying the market. I sure hope so.
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http://slopeofhope.com/ImageProxy?imageid=742&state=original&height=600&width=600
http://slopeofhope.com/ImageProxy?imageid=742&state=present&height=600&width=600
Due to (of course) a lack of time, I can only offer the following charts without any commentary. I'll let the lines do the talking for me. These are some favorite shorts now.
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http://slopeofhope.com/ImageProxy?imageid=743&state=original&height=600&width=600
http://slopeofhope.com/ImageProxy?imageid=743&state=present&height=600&width=600
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http://slopeofhope.com/ImageProxy?imageid=744&state=original&height=600&width=600
http://slopeofhope.com/ImageProxy?imageid=744&state=present&height=600&width=600
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http://slopeofhope.com/ImageProxy?imageid=745&state=original&height=600&width=600
http://slopeofhope.com/ImageProxy?imageid=745&state=present&height=600&width=600
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http://slopeofhope.com/ImageProxy?imageid=746&state=original&height=600&width=600
http://slopeofhope.com/ImageProxy?imageid=746&state=present&height=600&width=600
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http://slopeofhope.com/ImageProxy?imageid=747&state=original&height=600&width=600
http://slopeofhope.com/ImageProxy?imageid=747&state=present&height=600&width=600
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http://slopeofhope.com/ImageProxy?imageid=748&state=original&height=600&width=600
http://slopeofhope.com/ImageProxy?imageid=748&state=present&height=600&width=600
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http://slopeofhope.com/ImageProxy?imageid=749&state=original&height=600&width=600
http://slopeofhope.com/ImageProxy?imageid=749&state=present&height=600&width=600
Original [*]Present
Original [*]Present
http://slopeofhope.com/ImageProxy?imageid=750&state=original&height=600&width=600
http://slopeofhope.com/ImageProxy?imageid=750&state=present&height=600&width=600
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http://slopeofhope.com/ImageProxy?imageid=751&state=original&height=600&width=600
http://slopeofhope.com/ImageProxy?imageid=751&state=present&height=600&width=600
Good night, and may the rest of the week pan out even halfway as well as today!
Posted: 05:38 下午 | Comments (View) | Permalink
四月 29, 2008 - 04:46 下午The Big KahunaWell, as I've been saying, tomorrow (Wednesday) is going to be huge. An hour before the opening bell, we get the early GDP report (subject to revision - twice - in the near future). With so many people saying we're not in a recession, it'll be interesting to see what the data indicates. Then, at 2:15 EST, the Fed does their announcement. Every character, comma, and space is going to be interpreted to death.
From a charting perspective, it's impossible to say what will happen except that it'll be big. I have only one index position - - a fairly large-sized put - - but I'm definitely keeping a lot of cash on the sidelines just in case of some (God forbid) bullish blowout.
http://slopeofhope.com/ImageProxy?imageid=686
I got rid of my NDX puts today, because I really don't like the action here. I know that $MSH looks good, but $NDX is what I had puts on, and this chart worries me.
http://slopeofhope.com/ImageProxy?imageid=687
Added to which, the $COMPQ is exhibiting a pattern that has had very bad (for bears) results in the past few years.
http://slopeofhope.com/ImageProxy?imageid=688
On a brighter note - - and I actually had a pretty good day - - my dozens of shorts in oil are doing great. OIH has only lost about 6% of its value since its peak, but I really like how this is shaping up.
http://slopeofhope.com/ImageProxy?imageid=689
Likewise, my double-inverse ETF on oil, DUG, had a good day too. I bought these on the day where the low was made.
Likewise, my double-inverse ETF on oil, DUG, had a good day too. I bought these on the day where the low was made.
http://slopeofhope.com/ImageProxy?imageid=690
My puts on MDR also did well, with the stock falling nearly 9% today. This is another nice example of an attempt at a bullish breakout that failed, similar to ISRG.
http://slopeofhope.com/ImageProxy?imageid=691
And.........finally!.......my puts on BHI are shaping up. I like the way the price is moving away from that trendline.
0xhttp://slopeofhope.com/ImageProxy?imageid=692
One other favorite of mine is GENZ, which ever-so-slowly is building what could be a terrific head and shoulders pattern. If complete, this could take GENZ down to the low 50s.
http://slopeofhope.com/ImageProxy?imageid=693
That's it from me. I'll be watching IWM like a hawk at 5:30 a.m. my time. I offer something that I usually cannot - - and guarantee - - and it is this: April 30th is going to be really, really interesting.
Posted: 04:46 下午 | Comments (View) | Permalink
四月 25, 2008 - 05:46 下午Yo, Godot!Let me start by saying that this tax rebate that Bush was yakking about all day is going to stimulate only one thing: the deficit. The notion that this political gimmick is going to magically turn the sinking economy around is absurd. Those checks are going to be as potent as the Gerald Ford W.I.N. buttons from three decades ago.
Now, there has been something very weird going on with IWM volume. I was going to mention it a couple of days ago, but I shrugged it off. But it's going on long enough that I have to point it out. That way - - the volume is alternating! High one day. Low the next. High one day. Low the next. It's almost a perfect oscillating pattern. I have no conclusions about this. It's just...........weird. The volume graph is starting to resemble a comb!
http://slopeofhope.com/ImageProxy?imageid=653
One area where steady volume is not a problem is crude oil. This market pushed toward the $120 zone today. It's always something. This time is was a U.S. ship shooting a missile or something. God knows. It seems almost any news pushes crude oil higher these days.
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Although OIH was, in turn, higher, it isn't making new highs like crude itself. I am very bearishly positioned with respect to oil. It's either going to break very soon, or else I'm going to have a lot of stop-loss orders on my hands.
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http://slopeofhope.com/ImageProxy?imageid=633&state=original&height=600&width=600
http://slopeofhope.com/ImageProxy?imageid=633&state=present&height=600&width=600
One of my many positions in this area is BHI, mashed up against its broken trendline.
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http://slopeofhope.com/ImageProxy?imageid=644&state=original&height=600&width=600
http://slopeofhope.com/ImageProxy?imageid=644&state=present&height=600&width=600
SLB has surged very strong for most of 2008. This pattern is more speculative.
SLB has surged very strong for most of 2008. This pattern is more speculative.
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http://slopeofhope.com/ImageProxy?imageid=641&state=original&height=600&width=600
http://slopeofhope.com/ImageProxy?imageid=641&state=present&height=600&width=600
And, with all due respect to beanie (and you can take that however you want), I've got puts on two major solar stocks. Sunpower......
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.....and heavyweight First Solar.........So I can already tell you next week, if FSLR has blowout earnings and I get stopped out, beanie will have 57 posts about how right he was. If the stock plunges, he'll be nowhere to be found. Count on it.
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http://slopeofhope.com/ImageProxy?imageid=647&state=original&height=600&width=600
http://slopeofhope.com/ImageProxy?imageid=647&state=present&height=600&width=600
In spite of the markets (irritating) strength today, I still see equities as fundamentally broken at this point.
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http://slopeofhope.com/ImageProxy?imageid=634&state=original&height=600&width=600
http://slopeofhope.com/ImageProxy?imageid=634&state=present&height=600&width=600
The S&P 500, on which I own puts, is mushed right up against the underbelly of its broken channel as well as its descending trendline. That's on top of the psychologically important 1400 level.
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http://slopeofhope.com/ImageProxy?imageid=639&state=original&height=600&width=600
http://slopeofhope.com/ImageProxy?imageid=639&state=present&height=600&width=600
The Russell 2000, on which I also own puts, is in a similar pattern.
The Russell 2000, on which I also own puts, is in a similar pattern.
Original [*]Present
http://slopeofhope.com/ImageProxy?imageid=638&state=original&height=600&width=600
http://slopeofhope.com/ImageProxy?imageid=638&state=present&height=600&width=600
And the NASDAQ is banging against its 25% line on its channel. Now this one I'm more nervous about, since it is sporting a not-too-terrible inverted head and shoulders pattern.
Original [*]Present
http://slopeofhope.com/ImageProxy?imageid=636&state=original&height=600&width=600
http://slopeofhope.com/ImageProxy?imageid=636&state=present&height=600&width=600
But, as I mentioned yesterday, I draw some comfort from the formidable bearish pattern on the $MSH (whose options, regrettably, are so thinly traded as to not be worth pursuing).
Original [*]Present
http://slopeofhope.com/ImageProxy?imageid=635&state=original&height=600&width=600
http://slopeofhope.com/ImageProxy?imageid=635&state=present&height=600&width=600
Apple had a strong weak, but I have reason to believe this candlestick today presages a drop next week.
Original [*]Present
http://slopeofhope.com/ImageProxy?imageid=643&state=original&height=600&width=600
http://slopeofhope.com/ImageProxy?imageid=643&state=present&height=600&width=600
And, in my opinion, IBM blown gassed its way about as high as it's going to go against that trendline; I've got a stop here at 125.
And, in my opinion, IBM blown gassed its way about as high as it's going to go against that trendline; I've got a stop here at 125.
Original [*]Present
http://slopeofhope.com/ImageProxy?imageid=650&state=original&height=600&width=600
http://slopeofhope.com/ImageProxy?imageid=650&state=present&height=600&width=600
Lastly, the $XBD index has encouraged me to buy puts on investment banks, which have recovered sharply since the BSC debacle five weeks ago. I've got positions in Lehman......
Original [*]Present
.........Goldman........
Original [*]Present
http://slopeofhope.com/ImageProxy?imageid=645&state=original&height=600&width=600
http://slopeofhope.com/ImageProxy?imageid=645&state=present&height=600&width=600
.........JP Morgan..........
Original [*]Present
http://slopeofhope.com/ImageProxy?imageid=651&state=original&height=600&width=600
http://slopeofhope.com/ImageProxy?imageid=651&state=present&height=600&width=600
.......and another "Morgan", this one Stanley.........
Original [*]Present
http://slopeofhope.com/ImageProxy?imageid=652&state=original&height=600&width=600
http://slopeofhope.com/ImageProxy?imageid=652&state=present&height=600&width=600
It's been weeks and weeks since we've had a juicy, consistent bearish hammering of equities. Oh, I miss those days. But I remain confident that one day soon the bear will be back. He'd better. Otherwise this blog is going to get pretty dour!
Posted: 05:46 下午 | Comments (View) | Permalink