Gold has bounced nearly 9% since bottoming early last month, and it is at not only an important trendline but also fairly near a major gap at 130.38. I haven’t touched precious metals much lately, but earlier today I shorted a medium-sized position of GLD with a stop at 130.39. (more…)
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.
Perfect Gap Close for RackSpace
I’ve been holding off on shorting RackSpace (symbol RAX), and I’m glad I did. They announced earnings after yesterday’s close, and the stock has shot up to perfectly fill the gap from May 8th. I’ve gone ahead and shorted the stock today, using a stop-loss of 49.52. Here’s a close-up of the gap close: (more…)
Waiting on Miners
Ever since precious metals hit bottom on June 26th, they’ve been shaking off their kooky blues. Gold, silver, and their miners have all been on the ascent for nearly a month, and the comments section over on ZH is rife with I-told-ya-so-fiat-clowns sentiment. (more…)
