Slope of Hope Blog Posts

This is the heart and soul of the web site. Here we have literally tens of thousands of posts dating back over a decade. These are listed in reverse chronological order. You can also click on any category icon to see posts tagged with that particular category.

Weaker Dollar, Stronger Gold?

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Good morning, Slopers. It’s quite odd – – we had an enormous surge in traffic yesterday – – and I have no clue where it came from. It’s not like the market was collapsing (which tends to attract a lot of rubberneckers). Oh, well. I appreciate the interest in any case.

It seems to me the United States “full faith and credit” Dollar could be in for a turning point. By way of the UUP, shown below, we can see prices have slipped beneath the 50 and 100 day EMA, and the averages seem to be pivoting at an inflection point. As long as UUP stays beneath that red horizontal, it looks to be in decline mode.

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Are Bitcoin and Gold Bottoming?

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Bitcoin plunged from 7385 to 6830, or 7.5%, Wednesday in reaction to a Business Insider report that Goldman Sachs has decided to drop a year-ago decision to create a crypto-currency trading desk.

Apparently, Goldman is “uncertain” about the regulatory environment. Hmm, really? Since when has Goldman shied away from forging a new path while it influences the architecture of a new regulatory environment?

Be that as it may, let’s notice on the attached chart of September Bitcoin that the reaction to the report triggered a plunge that traversed the entire width of the bullish one-month price channel.  But the weakness in and of itself has not (yet?) inflicted serious technical damage to the upmove from the August low at 5850 to the September high at 7415. (more…)

Dust Goes Whoosh

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As the so-called “precious” metals market approaches its EIGHTH YEAR OF A BEAR MARKET (I could just weep – – why can’t stocks enjoy such wholesale destruction?!?!?!?), the triple-bearish-on-miners instrument I pointed out repeatedly last week has got its booster rockets on and is roaring higher. I suspect gold, silver, and miners will simply continue to soil themselves.

Gold is the Sun, and an Anchor

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The ‘Gold as Inflation Hedge’ Canard

On the one hand you have the sons of Harvey & Erb, who called gold to $800/oz. and caused a stir in the gold “community”. Per Campbell Harvey in this video with Kitco’s Daniella (dig the flowing golden locks of hair)…

“Gold is just too volatile” to be an effective inflation hedge.

Well yes sir, you are right. Gold does not track inflation in any kind of a convenient time frame. Gold’s volatility is a reflection of the volatility of the assets orbiting around it in the constellation of risk. (more…)

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