First, before I go any further, any of you Slope+ users that did not get an email notification today about a new post, please tell me; I’ve heard a few of you may have been left out, and although I’m not sure if it’s just going to your spam folder, I want to make sure it’s working on this end.
Out of my many short positions, the best mover today is symbol CSC, which is down over 4%. Looking up close, you can see a clean short-term topping formation: (more…)
The drop in precious metals has been shocking, particularly to those who – - quite logically, I think – - figured the trillions of clown-bux that
douchebag the honorable Chairman Bernanke was cranking out would send gold to $5,000 per ounce. Anything shiny – - and especially the miners that dig up anything shiny – - has been in an Honest To God Bear Market. I only wish I had put my entire portfolio into long-term GDX puts two years ago and just sat on my butt ever since. (more…)
Serious resistance has been broken this week and yesterday I was giving the next obvious targets over 1600, and the obvious target for this cyclical bull market much higher than that. I do have some short term words of caution to add however and they are that: (more…)