If you have seen the Kevn Spacey movie named ‘Margin Call’ then you have a fair idea what went on by the insiders (ie Bullion Banks) to the price of gold during April 2013. Here we look at the April and June 2013 gold smack down (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.
IBM Earnings
IBM will be announcing their earnings after the close. The last time they did, in mid-April, the stock gapped down hard (only to recover the losses in the weeks following). I don’t have any particularly strong feelings about the direction of the stock, thus I have no position, but I’ve marked a couple of important prices points below for tomorrow’s post-earnings action. If we break the pattern I’ve shown with those parallel lines, it could drag the market down (although, as we’ve seen today, even a couple of Dow stocks taking a tumble isn’t enough to move the entire market lower). (more…)
Game Over?
GameStop, shown below, has had a ridiculous run-up. I was going to check the P/E out of curiousity, but I have nothing to offer you, because they have no earnings. In any case, I think this is a relatively clean short, given the hockey-stick nature of the recent price ascent.The prospect of a rapid pullback, such as the one seen late in May, seems like an opportunity. (more…)
Tesla Trend Change
Yesterday, Tesla slumped nearly twenty bucks on the second strongest volume in its history as a public firm. My view is that the incredible run-up has stopped and that traders are going to take on a defensive posture. Today’s bounce is just that – a bounce – and I think prices will weaken again. Earnings come out August 7th, and given the stock’s still very-rich valuation, the numbers had better be shockingly good. (more…)
First Spike Down
When a high of whatever degree is being reached there is very often a first spike downwards that signals that the push is coming to an end. SPX (or whatever) often recovers back to make a new high, but the seed has been sown and a larger retracement arrives shortly thereafter. I think that’s what we saw yesterday in all likelihood. (more…)
