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.

Angel Dust

By -

Many of you know that yesterday morning I had two small positions in GDX and GDXJ on the short side. They got instantly stopped out due to an explosive gold rally.

However, in the middle of the day, when gold was up nearly $19/ounce, I did a Slope Plus post called How to Handle Miners in which I stated the obvious (that the miners short was stopped out) but also the not-so-obvious, which is that I thought the big rally was countertrend and should be faded. Thus, I bought DUST, the triple-bearish-on-miners ETF.

Well, given the action so far, it looks like the gold rally is at least partly reversing, which is good. The next big question is how it handles that gap (green tint). Does it fill it and strengthen or does it slip below and resume its bearish ways?

0106-gc