That was the question I asked myself after being 100% cash into the last hour yesterday and seeing the bottom fall out on the gold stocks once again. Classic trading methodology teaches that you do not try to catch a falling knife. ‘Screw classic trading methodology’ thought I, ‘I’m taking some positions’, which ended up being in the gold and silver bullion fund CEF (now selling at a discount), a few individual items I consider to be of relative quality and the leveraged NUGT in a high risk trading account. (more…)
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.
And You Pay HOW Much for This Service?
One More Heave
SPX didn’t quite make my ideal H&S neckline at 1539 yesterday, but the low at 1543 was a viable completion of the head on a candidate H&S and the positive RSI divergence at the low suggests a strong bounce here. The ideal targets for that bounce would be either the 1574 area to make the right shoulder on this candidate H&S, or a retest of the highs to form the second high on a double-top:
