HUI has been targeting as low as the gap at the 180 area for months now, since losing the 50 day averages. I may have shown this chart once publicly, can’t remember for sure. But it is one of a few that we’ve used to manage the process of a correction that was well earned (please, save the conspiracy theories).
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.
Given the fact our forthcoming president is a real estate mogul, it’s amusing that the industry most vulnerable to a big price drop is, in fact, real estate (I’ve already witnessed it here in the Silicon Valley, where prices started slipping this summer).
Back on October 21st, before the election, I suggested SRS as a buy. It’s up about 13% in that very short amount of time, and I think there’s plenty more to come.
As reported by our friends at ZeroHedge, Dennis Gartman, celebrity prognosticator from CNBC, has outdone himself this week……..
I’ll also say ZH had what must be one of the funnier comments of all time:
SPX has gone a bit higher than Stan was expecting this morning, but there was a big volume spike yesterday that strongly supports his expectation that a significant high is being made here, and that we may well retrace much or all of this powerful post election rally. These don’t always deliver, and I haven’t had a chance to run through performance over the last twenty years yet, but I’ve put these down as 85% odds of a significant high within three days and I think that’s conservative. The only fail I can recall offhand in the last few years was in March this year. SPX daily chart:
This is far and away my biggest short position (and I used to never trade it at all):