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.
I have harped upon the symbolic picture of the new macro since 2022. That was the year that the trend in long-term Treasury bond yields was broken in a fierce rebellion by a bond market that had enough of the previous decades of monetary and fiscal chicanery.
It’s over folks. What was – a disinflationary continuum in declining yields permitting the Fed and government alike to print/bailout/inflate at will – no longer is. Period.
The price quote manifestation of my “bullish precious/bearish equities” mantra on my iPad is simple: I want to see red quotes on the top (where equity index futures are shown) and green quotes on the bottom (where precious metals futures are). I’m getting something close to that this morning, with the /NQ down triple digits…….
If there’s one asset class I’ve been steadfastly bullish about for over a year, it’s precious metals. I’ve mentioned the Slope theme (bullish precious/bearish equities) ad nauseum, and in spite of my completely ham-handed trading with the beast, my enthusiasm for precious metals has been correct.
That’s all the more reason I’m cheering on the latest breakouts – – and the plural is deliberate. We have precious metals miners:
About a year ago, Baby Bear told everyone here that instead of worrying about buying silver at the exactly “right” price, maybe just buy 10% of your intended position every day for a couple of weeks, be done with it, and forget about it. That was sage advice. The “set it and forget it” mentality has worked out well for precious metals bulls.
I’ve been trumpeting palladium (by way of PALL) back when it was about 25% cheaper. I have NOT taken the above advice, instead nibbling here and there on profits along the way. I’d have been much better off just holding the dang thing. But let’s set that aside and focus on palladium itself.
First off, here’s a long-term percentage change chart of silver (blue) versus palladium (black).
