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.
FocalEquity Stock Market Ranking
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The OTHER Commodity I’m Shorting
Black gold. Texas tea.
Cash is my Long
Maybe stocks have finally put together a nice base for a rally. There's an all-too-obvious inverted H&S pattern on both the NQ and the ES, and a lift back to around 1180-1190 seems not that difficult.
For me, I simply say – – and I really say this, out loud, to myself – – cash is my long. I am not interested in chasing bear market rallies. I'm going to probably miss some potential profits, yes, but I think buying into these rallies is ultimately as profitable as trying to short powerful bull markets. You never know when things are going to flip against you.
So I've got no problem having most of my portfolio in boring old cash and maintaining short positions on a stock-by-stock basis. Refering to the ES chart below, Chairman Bernanke – – good Dr. Bernanke – – could probably goose things up through that green rectangle and, gosh, with his team of patriots, maybe even push it into the red. That is, anywhere from 1250 to 1310 or so.
Safe travels to Jackson Hole, sir! Sha-freakin'-lom!
The Black-Eyed Peas Suck
Some folks seem to have misinterpreted my recent purchase of silver bullion as a sign of precious metals bullishness – kookiness, one might say – on my part. Not at all.
I do agree with my friend Serge that gold could ultimately be on the path to a $5,000/ounce zaniness, but for the moment, I think there's an opportunity for the metal to lose maybe 10% to 12% of its value.
My largest shorts right now – neither gigantic, but largest nonetheless – are GLD and GDX. I think the spread between the wedge breakout and yesterday's high speaks for itself.
And, as for GDX, I think we are at our "July 2008" moment in which the miners have had their last hurrah and are ready to bring the entire equity market down with them.
As for equities……..Chairman Bernanke, make 'em soar! I offer my best wishes and cheers for Dr. Bernanke and his superb team of economists and patriots. Send those stocks higher, Dr. Bernanke! You have my respect…….and my admiration. Shalom.
