Why not #SqueezUncleBuck?
Consider this post for entertainment purposes only (but not really).
In the “short squeeze era” as this silver promotion put it (among a litany of other well worn sloganeering)…
(more…)Squeeze Uncle Buck
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.
So Here We Are Then
Firstly my apology for the lack of an update last week. As I’ve mentioned, I’m negotiating my way through a difficult divorce at the moment, and some weeks are harder than others. On the harder weeks I struggle to get any posts done. As the weeks and months pass everything should be resolved and I can just move on and I’m really looking forward to that.
So what has happened since my last post? Well I noted wryly that I lost several twitter followers as soon as I published my last post, and I assume that was because I was looking for a support break and retracement on SPX, and that is exactly what we have seen. I think that the low we have just made is what I would call ‘the low before the high’, just a sort of stretching of recently unused muscles before a larger retracement gets going, and I’ll be looking at possible targets for that retracement in my next post.
(more…)For Example
With all the “HOLD!!!!!!!!” and “DIAMOND HANDS!” chatter going on with the lunatic fringe, I wanted to offer up an example of the kind of quandary some folks are in:
Just to translate: this guy has 20,000 shares. He paid an average of 37.76. That means last week he had over $10 million in GME. Only days later, it’s worth $2 million. $1.8 million He still has a profit of a million bucks, so hurray for him. But still, all this bravado about “Diamond Hands” is profoundly expensive. Eight million dollars to say to a bunch of strangers that you were stubborn isn’t worth it.
Retail Relaxation
With the GME insanity of the past week, it absolutely played hell with the retail fund symbol XRT. The price had been within the pattern since last March until it burst above resistance. With GME’s crash, XRT is working its way back to the trendline, which is now serving as support.
Silver Isn’t The Next GameStop
We’re Bullish On SLV
Let’s get this out of the way, before we’re accused of being silver bears: we’ve been bullish on the iShares Silver Trust ETF (SLV) for months. Each trading day, we rank all the securities in our universe by our estimate of their potential returns over the next six months. We base that on our analysis of their past returns as well as options market sentiment on them. We broke down this analysis for SLV in December (Why-Oh Silver). SLV was one of our top ten names in our most recently completed top names cohort, the July 30th one.
(more…)