Although I dumped my GDX long earlier Tuesday, holding it for not even half an hour and blowing up $400 on it, I did (foolishly) enter a long GDX call position in my options account. I know I’m going to loathe those in the morning. I really need to stick to “pure bear.” Serious support for gold doesn’t exist until probably about $1100 or so. (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.
The article below was sent in by a reader (I’m not sure if he wants me to cite his name, so I won’t). I am particularly grateful since I really need to spend the rest of the day horizontal. I should be right as rain in the morning, God willing.
I am glad today is relatively quiet (AKA boring), because I am barely able to stand…………..bleah! No one likes being sick, but I’m the world’s worst patient; I just can’t stomach not being at 100%.
Well, I still feel like crap, but the show must go on! So I wanted to get a post out there. Miners have been in a free-fall for a couple of years, but there are occasions when they are primed for a bounce. I think this is one of those times. You can see the “Bollinger Band Crash” below with the gold bugs index. I don’t think “the” bottom is in, but a nice bounce could be at hand. (more…)
I posted a chart on twitter yesterday showing the intraday low, and showing that it was a possible retracement low as it was both a test of broken rising wedge resistance (target 1965 area) and very close to a 38.2% fib retracement of the move up since November. Since then a bounce on ES has been trying to get established. Here is that chart that I posted intraday yesterday. SPX daily chart: (more…)