Wednesday, May 16, 2007

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!

12 comments:

Leisa said...

Toshi

I suppose that in addition to The Slope of Hope you will have its corollary (presuming any of us lives long enough to see this market go down): The Incline of the Divine (I'm sure someone could improve this!)

JakeGint said...

I posted this on the last thread in answer to bhealed's query for an explanation.

Carry on?

(my wayward son??)

beanie11111 said...

DUSA!!!!

beanie11111 said...

dusa to 30???!!!

pleadership said...

I am also looking at ESS and VNO in the REIT space for shorting.

beanie11111 said...

Do you DUSA?

Tim Knight said...

Pleadership.........good tips on ESS and VNO. They look terrific.

Beanie, the three (three!) posts on DUSA aren't helpful. To show a stock that has been in a huge downturn when it happens to have a 61% pop in one day isn't going to make anyone money.

Prometheus said...

What's going on with Dell? HP down 1% while Dell up 1%. Good two day move on bad news. Of course today is turning into a nice shooting start if it falls a little more.

beanie11111 said...

DUSA is en fuego!!!!!

worth $15 is my opinion.

z-stock said...

I bought ANDE and I shorted the QQQQ’s. This is my way of being all in cash. I think the market tanks FRI, I’d like to see one more Black Friday, one more time. Hopefully before the decade runs out. Expirations Friday, used to be ruled by the bears. Now it’s pre-dominantly ruled by a coin toss, that’s flipped into the air, by a mentally deranged gang of bulls.
Zee

beanie11111 said...

Permabears in for some more spankin today and then next week.....

z-stock said...

Market tops next week. Tops same time Xle tops...Last time, I posted right here at TK’s, that GDX and DIA will top at the same time. Everbody laughed at me. You know who you are. Then Feb 27th hit .....I didn’t see anyone laugh after that.
zee