Those of you who watch me on tastytrade probably heard me mention my DUST short yesterday. Turns out it wasn’t a terrible idea. It’s down a lucky-sounding 7.77% at this very moment, thanks to the bounce in miners.
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.
Junior Gold Bears Ready to Leap?
The DUST saucer has been roaring higher, and its little brother JDST looks ready to do the same. It seems hard to believe, considering how trashed gold miners have been for seven years, but………..a saucer is a saucer:
Are Bitcoin and Gold Bottoming?
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
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
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…)
