Alcoa is, at long last, seriously starting to tumble. There’s nothing but open air beneath this gargantuan top.
Foiled Again
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.
Heavy Metal
During the course of this year, I have taken a few stabs at Alcoa (symbol AA), but the danged thing moves so slowly that I have just bailed on it. Long-term, and I’m talking years, I think this thing could be vastly lower than it is now. It’s like an oil painting, though, so it doesn’t hold my interest.
Divided by Gold
Gold is real money. Dollars, pesos, and yen are all toilet paper. To judge the true fate of equity markets, observe the major stock indexes below, each of which are shown as measured by gold. Every single one looks like a gargantuan top for a reason. Because they are.
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Miners Join Failure Party
The junior miners were already breaking down badly. Now the big fund of precious metals miners has joined it, breaking its trendline clearly.
Precious Faltering
Since apparently the only assets worth owning are money-losing tech companies, old-fashioned paperweights like gold are getting the cold shoulder. The front month on gold is down about $27, and GLD has maintained a series of long-term lower highs for an extended period.
