Let’s talk about gaps. Again. Every single one of these is from June 9th.
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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.
Double Trouble
The zany end-of-day FOMO runup on Thursday afternoon seems a little silly right now, considering some of the post-earnings action. We have SNAP, which is getting destroyed. Incredibly, if you were shrewd enough to buy this thing when it came public 64 months ago, you’d be down about 50% right now.
Gold Bug Survivors Prepare to Capitalize
It has been a classic washout in the gold stock sector, but if positioned correctly opportunity is setting up
- The ‘macro’ and sector fundamentals have been incomplete (details beyond the scope of this article, but they are not the easy, low hanging fruit that many in the ‘gold adviser’ herd focus on).
- The technicals have advised a downtrend since mid-2020 with the exception of one head fake in March-April, 2022.
- Sentiment, which was over-bullish in mid-2020 and April 2022 is now opposite, and very bullish on a contrarian basis.
- The sector is deeply oversold as evidenced by an extreme in the Gold Miners Bullish Percent Index (BPGDM).
- Commitments of Traders data for gold and silver are positive and very positive, respectively on a contrarian basis.
- As has been proven by the facts of recent history, the NFTRH view of cyclical (as opposed to ‘stag’) inflation being terrible for gold stocks was correct, even as this view was lost in the din of opposing – and tragically wrong – opinions by heavily followed Twitter ‘influencers’ and other dignitaries.
Supertrain!
Well here’s a bit of 1970s kitsch I had never heard of in my life: Supertrain.
This was a short-lived flop on NBC back in 1979. From what I can tell, the pitch meeting went something like this:
“So you know what a smash hit Love Boat is, right?? So what we’ll do is the same thing, except we’ll change the method of transportation. We’ll put it on a train!”
And that’s precisely what they did. Here is the introduction. Brace yourself for character actors that are massively overdoing it for the camera. It looks absolutely dreadful.
