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.
Tonight I’m going to forego the usual quest for thin reeds on which to hang the equity bear case, and instead offer up reasons why all hope is lost for now. So here goes…..
First, the Dow Jones Composite has penetrated and successfully tested its former resistance line. This resistance is now acting as support, as illustrated by yesterday’s test of the line and today’s acceleration up and away from it.
“History shows again and again how nature points out the folly of man” –Blue Oyster Cult, Godzilla
I would have written off the gold sector long ago in its ongoing bear market had I thought for one moment that gold’s utility as insurance against the acts of monetary madmen/women in high places had been compromised in any way. On the contrary, the monetary metal is simply having its price marked down in a bear market while its value, especially given its current price and all that has gone on in the financial system over the last 3 years remains just fine.
Indeed gold, an element dug out of the ground for centuries, once as money and now as a marker to sound money systems will one day be shown to be a calm oasis from the fallout to global monetary shenanigans currently ongoing. At least it would be an oasis to those who have valued it as such. It is going to feel like a giant dinosaur (minus the kitsch value) ripping through a city built on paper to the multitudes who have taken the bait on the current too big to fail global inflationary operations. They will fail. Timing is the only question. (more…)
I find posts like this boring, but sorry, that’s the market we’re in – – EMC is a nice, clean breakout for a long position. This stock has been dynamite for years, and it seems poised to just keep on keepin’ on.
Here’s today’s swing-trading watch-list:
Long International Business Machines (IBM)