Slope of Hope Blog Posts

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Can’t Trust That Day

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Happy new week to everyone – a week where we kiss September good-bye (well, actually, where we punch it and throw it down the stairwell) and welcome (*sigh*) October.

As you're aware, what lies ahead is really all tied up in what the dollar does. I think the long-term view of EUR/USD points downward, and so in turn I'm going to go full-on bear within the next couple of weeks (at this point, I've only got the upper half of the costume on). The medium-term view of the EUR/USD, shown below, could be construed as mildly bullish, as long as it stays above that line I've drawn.

0928-eurfar

Taking a closer look, things seem more vulnerable – – just the same as with equities. The market is on a downward tilt (again, short term) so I'm going to be keeping very tight stops on my OIH, DIG, and GLD long positions.

0928-eurclose

The quality of the comments over the course of the weekend was even higher than usual. If you've got some time to spare and haven't done so, I'd suggest you thumb through the past couple of days' worth of comments; there are some real gems in there.