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.

Goldfingered

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After the past couple of weeks of the market being beaten down due to Middle East tensions, the fact that things have simmered down is all that it took to cause a rally. I welcome the rally, and I hope it’s a huge one, but I’ve got to say a couple of things: (a) I fear the rally going take a long while, which is a drag for an impatient chap like me sitting on buying power (b) I’m surprised how utterly FEEBLE the rally is right now, with just a little bounce taking place, indistinguishable from all the others that formed during the midst of the selloff itself. It’s pathetic, bulls!

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Macro Turning in Favor of Gold

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Excerpt from NFTRH 804 on the macro turn in favor of the anti-bubble, gold

Turning

NFTRH is a top-down macro entity. It is not a stock pick rag, a technical analysis junkie, a market psychologist or a monetary/fiscal policy obsessive. It is all of those things, as needed. But primarily what we do is define the macro and then continually update the definition because it is always progressing, shifting, cycling and changing. From that work we then try to take it from ‘top-down’ definition and apply it to investment strategies.

I sometimes bristle at the hype that emanates from the precious metals sphere coming in the form of gold bug doctrine, perma-cheerleading, lecturing and rigid thinking. That is because like it or not, the macro is always shifting and doctrine or not, the macro shifted away from the precious metals in 2012 and only began recovering a gold-positive view in 2018. Since then, it’s been a volatile process with incomplete macro fundamentals.

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Gold’s New Record

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For the first time in history, gold is over $2,400 per ounce on the futures market. By the way, if you think things are as super-peachy as D.C. wants you to believe, consider that the $400 gold has slapped onto its per-ounce value in just a few weeks might suggest some other reality. Markets don’t move like this just because it makes for a pretty chart. This sucker is looking like Nvidia.

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