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.
As I read through the blogs and public articles on miners and the GDX, it has become quite evident that many have now turned either bearish or completely indifferent to this complex. In fact, it seems as though the number of hits being seen in the Seeking Alpha metals section has dropped dramatically over the last year.
It seems most are looking for the metals to just drop from right here for a myriad of reasons. (Well, that is, other than those who only see the word “UP” when you mention the word “gold” to them). For those who usually place their expectation upon the immediate direction of the complex, it would seem that the recent drop in price has them expecting it will immediately continue to drop. Isn’t linear analysis wonderful? So, it would make sense, at least from a sentiment standpoint, that we need to get a number of them believing that the market is about to rally strongly, which will then trigger our trap door. (more…)
I was searching for something on Slope the other day, and totally by chance one of the results was an ancient post from over a decade ago. It was mildly interesting re-reading it, especially the comments, since we were in the throes of a bull market that was never ending (like, umm, right now).
What caught my eye was a guy I had long forgotten about, Merrill Howard Kalin, who had his own cooking show on public access. Some things have changed over the past ten years, but my warped, deranged sensibility about what’s amusing has not. To those easily offended, don’t even click Play, because I don’t want to hear your griping. I’m not in the mood. Just remember……….raw chicken+cutting board+salad greens=danger.
Of the seven different put options positions I’ve got, XLP (Consumer Staples) is probably my favorite, because its pattern is cleanest. From a long-term perspective, its uptrend is broken, even in this stupid new-highs-every-day market of ours: