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.

Are New Highs Bullish or Bearish?

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It is widely accepted as common knowledge in trading that new highs in
securities such as stocks, bonds or commodities (or any index for that
matter) is a bullish technical event.  The simple logic behind it is
that when a stock makes a new high, everyone holding the stock at that
point is profitable and therefore, you don’t have any remorseful buyers
sitting at a loss, praying for the stock to get back to their entry
point so they can sell and just breakeven.

However, there are times when breakouts to new highs can actually be
very bearish technical events.  This is most often the case during
topping phases in the markets when the institutions (smart money) are
handing the bag to the retail traders or investors (often referred to as
the dumb money)….no hate mail please as this is just a general term and certainly does not apply to yours truly or anyone reading this post!

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Miner Skyfall Continues Apace

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There's no probably no short idea for which I've received more flak over the prior year than miners (symbol GDX). Yes, my analog on them broke, but the fact is that, over time, my bearish disposition on them has been correct.

The breakdown is accelerating. I think this continues to be one of the best shorts out there. The one thing I've learned is not to dare utter such things on ZeroHedge, which tends to be Kook Central. I'll stay here, where a few folks actually don't believe gold is heading to $5,000 an ounce.

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