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Slope of Hope Blog Posts
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Excerpted from this week’s edition of Notes From the Rabbit Hole, NFTRH 352:
For what seems like forever we have been mechanical in managing the precious metals because they have been bearish; period. This has been based on short and long-term technical indications and incomplete macro fundamentals. Gary the robot has had no difficulty whatsoever holding this stance despite Gary the human’s unwavering view that the value of gold is in its insurance and long-term retained value qualities.
The precious metals took a hard bearish turn last week and that is the best news I have seen in a while because the complex has been locked below important resistance (failed support) for some time now and the sector usually completes its severe corrections and bear markets with a bang, not a quiet whimper.
I did a recent post here and over on ZeroHedge which got a lot of views based on the SPY/GLD ratio. Some readers pointed out something that hadn’t occurred to me before: the ETF GLD didn’t even exist until November 2004, which means the ratio is really only valid starting on that day. (SPY, on the other hand, the first ETF, was created early in 1993).
I assumed incorrectly that ProphetCharts would only begin charting a ratio at the most recent start day for any symbol used. I assumed wrong. This would normally be excusable were it for not one inconvenient truth:
Here’s today’s swing-trading watch-list:
Long Jarden (JAH)
Last night, in my Model S, I happened to find an interesting site called TeslaTuner when I was searching for voice-activated commands supported by the car (this is kind of a secret feature, so I wanted to find out what I could utter besides “Play” for a song). Along with the guide to voice commands, though, was this little gem:
I just want to go on record here, as a Tesla owner myself, that any valet confronted with the message above is, by federal statute, permitted to drop a deuce into the front trunk of the vehicle, to be discovered later by any hopelessly middle-class douchebag who would dare leave such a self-important screen for you to see.