On Tuesday – marvelous Tuesday – I did this post which speculated that the Russell would fight its way back to as high as 810 or so. We've completed the first step, closing the gap. I'm not sure if the index will complete the journey to 810 or weaken here, but I have augmented my existing shorts with some new positions at present levels. I remain only 65% committed and have a long on XME as a hedge.
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.
GATA Communication Received (by Gary Tanashian)
[GATA, for those Slopers who may not already know stands for Gold Anti-Trust Action Commitee, AKA a Tin Foil Hat factory –GT]
I received something yesterday by way of a friend, from GATA, talking about "frustrated precious metals investors" and "bankster ambushes on the gold and silver markets". The article talks about market participants' "sense of hopelessness" about change with regard to the "Western financial crime syndicate" and the "Empire of the Wall Street Vampires".
I then stopped reading.
Business as Usual (by Springheel Jack)
Well we got the bounce I was looking for yesterday, but declining resistance from the high on ES was broken overnight, and that threw a small hand grenade into the short term bear case. Looking at EURUSD and NDX particularly, the overall damage to the short term bear case looks fatal, so the retracement this week has more than likely bottomed out, and it looks like we are therefore back to business/bullishness as usual. Many are switching over to the June ES contract today but I tend to wait until the volume on the June contract is higher, so I'd expect to switch tomorrow or Monday. All ES values given today are therefore still for the March contract.
