Maybe a little too much detail, as the TA novelty known as the Andrews Fork makes an appearance. But here is the story that the bigger picture weekly view of the HUI Gold Bugs index wants to tell.
HUI Weekly Chart, in Detail
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.
Wreck
If the market gods wanted to tease any surviving market bears in the cruelest way possible, they managed to do it twice over just the past few days. Last week, with the President getting Covid (end result: NOTHING) and then, just days letter, the President saying “No Dice!” to any kind of stimulus package (end result: NOTHING). Someone – – and I think his last name rhymes with “Owl” – – really, really, really wants this market to keep chugging higher through Election Day. It’s sickening and boring at the same time.
Mundane Objects
Well I tried to talk about face masks and COVID-19 in my last post and that was my least popular post in years. I would note from the responses that wearing a mask is primarily for the protection of others from those infected with COVID-19, so wearing one is not so much a matter of personal courage as consideration for others. In response to a couple of questions I was asked I would also add that I’m happy to say that I am in a low risk age group, and that the only member of my family in a high risk group has already had and survived the virus so personally I’m not too concerned. Be all that as it may it seems that I should abandon trying to talk about COVID-19 until after the presidential election.
(more…)If You Insist
It’s true, I’ve been splashing cold water on the idea of selling short into this market lately (which probably means you should………..) but let me at least share the handful – – six of ’em – – of equities that I did short, this time including the stop-loss prices I am using for each position (which are set rather tight, understandably):
What the Fork?
There are a mere 18 trading days between now and the end of election day. I have already dialed down my exposure to I-barely-even-care levels (75% committed, 28 positions), and I may drop it even more. The level of “do whatever it takes to win” manipulation going on right now is stomach-churning, and I’m just not interested. Powell knows full well that a plunging market would destroy the Fed, and he is smart enough to realize he’s got to keep the current guy in office for that to happen. So BRRRRRRR is set to “11”.
I will point out, however, a rather remarkable pitchfork pattern I stumbled across moments ago on the IWM. I’ll let the chart speak for itself, but I find it pretty cool:
