Glad I got out of those GDX puts yesterday morning! The miners have busted through their resistance trendline.
Miners Break Out
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.
The Fed’s Final Frontier
As the New Macro Engages, Gold Stocks to Shine
Gold stocks are rallying in the short-term, but the real move may still be ahead
This article views the gold stock sector’s big picture bullish situation from the standpoint of a single indicator, the HUI/Gold ratio and its relationship to the 30 year Treasury bond yield.
On the shorter-term and without going into tactical detail in a public post, the gold stock sector will either continue bouncing to end the correction that has been in force since the spring or it will take a final plunge. A final shakeout that could come amid vastly improved or improving fundamentals. As of the end of Q3 those fundamentals had not improved. They had degraded.
(more…)Mellow Yellow
I don’t mess around with precious metals much, but today’s enormous rally has caught my attention.
Freeport
I had sort of forgotten this stock existed, but LZ mentioned Freeport McMoRan (FCX), and I found the symbol hiding in my “Miners” watch list. It is sporting what could turn out to be a beautiful diamond reversal pattern. I went ahead and bought $40 puts expiring on January 19th 2024.
