15 years ago – Page 41 – Slope of Hope with Tim Knight

Slope of Hope Blog Posts

Slope initially began as a blog, so this is where most of the website’s content resides. Here we have tens of thousands of posts dating back over a decade. These are listed in reverse chronological order. Click on any category icon below to see posts tagged with that particular subject, or click on a word in the category cloud on the right side of the screen for more specific choices.

Chart on GLD (Mike Paulenoff)

By TheTechTrader - 15 years ago (04, Jun 2010 12:08:47 PM)

Amidst the carnage, gold is acting well — like gold should act. Every day, sometimes multiple times each day, investors get blindsided by negative news that clobbers stocks, but not gold, which appears to be under accumulation during every bout of weakness.

Today's low in the SPDR Gold Trust (NYSE: GLD) represents a 50% retracement of the prior upleg, and which provided a pivot low at 117.00 into a $2 advance to 119.00. Let's notice that important May-June resistance resides at 119.70, which if (or when) hurdled should trigger upside acceleration towards 122.00.
Only a break below 117 will compromise the strengthening pattern.

Originally published on MPTrader.com.

Gas Attack

By Tim Knight - 15 years ago (04, Jun 2010 11:11:01 AM)

I had a feeling UNG might break out, but I did nothing to take advantage of it. Wow, what a liftoff! I shorted this a few minutes ago, and I intend to reverse my position is we get back to around $8 or a little less.

When Will the Toggle End?

By Tim Knight - 15 years ago (04, Jun 2010 9:55:47 AM)

Look at this candlestick chart of the /ES recently. Up big. Down big. Up big. Down big. One would think today would be a short-term bottom. But all trends end. We'll see. It's an interesting pattern, though. A firm level of resistance at 1107 with a series of higher lows. I've taken some profits on a few big ETFs since this toggling gives me pause.