Well, this is the 5th day in a row that IWM has given us a black candle (that is, a closing price lower than the open). It’s not scientific, but I took a hard look at the IWM for the past two years, and I don’t think I found any other instance of this happening. It’s nice to get some consistency to the downside (although the percentage move isn’t that huge yet). (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.
I finally bit the bullet and bought GDX today. I looked at a lot of charts – AU, ABX, $HUI, $XAU, GLD – before making this decision. One of the more compelling charts was DUST, shown below, which is triple-bearish on miners. I think it is near exhaustion, which indicates we’re about to rally on miners.
Here’s today’s watch-list:
Short Ironwood Pharmaceuticals (IRWD)