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.

Gold/SPX Ratio and the Gold Stock Case

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In and around the August time frame we noted (in NFTRH) high risk to the gold miners because the price of HUI had gotten a million miles ahead of gold’s ratio to the stock market. That was typical bit in the mouth enthusiasm by the gold “community”, as even Warren Buffett bought a gold stock (and signaled a top).

This chart (and another I have like it) revealed to us in real time the excessive condition. Could the miners have just kept going, into a bubble of their own? Sure, but very unlikely. Amid the bubble making elsewhere gold, silver and the miners are doing the right thing… and they are doing nothing that they did not do several times in the bull market circa 2001-2007. Those bull market grinds were interminable, but ultimately gave way to grand new highs when the healthy corrective work was complete.

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