Preface to all sector posts: This weekend I’m organizing charts in a different way. I’ve picked from my existing portfolio of live short positions and have grouped favorite shorts in specific sectors. Here are the selections for this group, and hopefully the markups will speak for themselves.
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.
A general review of the current status across different asset markets. This is not comprehensive, forward-looking analysis as per NFTRH, but it is an up to the minute summary (as of Friday afternoon).
Gold, silver and gold stock indexes/ETFs made what I had thought were bear flags yesterday, but today’s reversal painted them as short-term bounce patterns (‘W’ with a higher low in the miners and silver).
This chart of gold shows a flag breakdown, whipsaw and new closing high for the short-term move. As we’ve noted for weeks now, the Commitments of Traders (CoT) is in a contrary bullish alignment with large Specs all but wrung out of the market (they were fleeced again; don’t believe hype about their increased shorting being some sort of conspiracy). All in all, not bad for the relic. The bounce lives on. (more…)
So, honestly, I want to make sure I’ve got this straight.
- There was relatively free trade;
- We enact tariffs on agricultural imports to make them more expensive to American consumers;
- Other countries retaliate with their own tariffs, diminishing demand for American products;
- Farmers are selling less and making less money;
- So the U.S. government starts writing them checks to compensate with money we don’t have (in case the whole “$21 trillion in debt” thing wasn’t quite clear yet)
So, net result – – American consumers worse off with higher prices. Foreign consumers worse off for the same reason. American taxpayers paying for billions of checks being written to farmers.
Between weakness in gold (which is nearing its 7th consecutive year of its own private bear market) and an oil market that’s down over 4% so far today, commodities continue to tumble away from their reversal pattern. I’m not expecting a hard fall, but things certainly seem poised to continue melting away for weeks to come.