The Slope of Hope

First off, as you can see, I've dolled up the site a bit. After I added MyBlogLog (for which you really should sign up - it's pretty cool, and it's free) I decided to spruce things up a bit, including the title of this blog. Perhaps you haven't heard the old saying about how markets climb a Wall of Worry and fall down a Slope of Hope. But that's where the title comes from.

On the plane home, I started reading Ken Fisher's The Only Three Questions that Count. I like it a lot so far. You might want to check it out if you enjoy Mr. Fisher's writing in Forbes.

Today was another weird day on the market. It was weird in that, once again, my totally bearish portfolio gained value in spite of another triple-digit climb on the Dow and another record high. And it was also weird that, yet again, really crummy economic news came out, yet the markets cheered. What a bunch of psychos. Oh, well.

BBD has been mentioned here as a bullish play, and it's looking stronger than ever.


I also like (bullishly speaking) CRDN.


I have avoided copper for a while, but I think I'm going to acquire some puts on Southern Copper (PCU) based on its location within this channel.


John Deere (DE) is something on which I already own puts, and I like the look of this huge bearish engulfing pattern, particularly since it was in the context of a big "up" day.


Real estate is getting even weaker, and KRC is another good short within that world.


Lastly, I hate to bore you with another ONT chart, but I continue to be amazed how well this stock is doing. It was first mentioned by a reader in this blog at the point where the arrow is showing, and I agreed with her bullish take on the stock a few days later. Since then, it has more than doubled, and on amazingly strong volume.


It's nearly midnight, so I'm off........see you at the regular time tomorrow afternoon! And remember to sign up for MyBlogLog - it's a kick!