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.
Big-Picture Stair-Step Climb for Gold Miners (Paulenoff)
Originally published on MPTrader.com.
Two New Shorts and One I Missed (By Ryan Mallory)
Disappointing day for bulls today as what looked like would be a soaring open when futures opened Sunday night on news that Spain was seeking a bailout, quickly vanished as the US market open came about.
I think for the most part, that this market has grown tired after registering its best week of the year last week, and for it to continue mounting gains day-after-day is quite difficult, and the fact that it lost momentum just below key resistance levels, leads me to believe that recent strength is more of a dead-cat bounce than anything else. To prove me wrong, the bulls will need to cross some key price levels first (most notably 1335 first).
A La Mode
Yesterday, while I was watching every asset class on earth explode higher, I was in Don't Get Killed mode. Given the fact that the bulls completely and utterly dropped the ball by this morning, I went back into the mode I greatly prefer, which is How Can I Make the Most Money.
In spite of that, I'm still playing it safe. I covered my large short positions, and I'm presently only about 35% committed with the rest in cash. I do have 20 new positions that are a single mouse-click away, which will goose me up to 50% committed, but I'm in Wait and See mode (who knew I had so many modes?) since for this particular moment – we might be shoring up for somewhat higher prices intraday.
The good news for me is that this whole Spanish Bailout was about as hugely successful as the Facebook IPO. This might be a sneak preview of the bearded one's announcement next Wednesday, which might – – as with Spain – – could turn into a very fadeable non-event.