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.

Gold & Silver Bulls, Don’t Give Up Yet

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The “sentiment” in the metals complex now ranges from indifferent to very bearish.  In fact, I am seeing many just posting how they are just fed up with the metals complex, and just want to move on.  And, that is often the time when fireworks are seen.  So, I think it is prudent that we remain on our toes right now, just as many seem to giving up.

With silver’s direct drop lower this week, along with the potential that the GDX may hold its 21 region support, we may be able to maintain a more immediate bullish perspective.  However, I still want to note that it will still take several months until the next break out set up is ready to go.  But, what I am about to present is the best-case scenario we can view on the charts at this time.  And, they need some serious confirmation in the coming weeks.

First, I will go through the more immediate bullish potentials, as presented in silver, GDX and GLD.  Then I will discuss the more bearish potential, and what can trigger that. (more…)

Gold & Silver Bulls, Don’t Give Up Yet

By -

The “sentiment” in the metals complex now ranges from indifferent to very bearish.  In fact, I am seeing many just posting how they are just fed up with the metals complex, and just want to move on.  And, that is often the time when fireworks are seen.  So, I think it is prudent that we remain on our toes right now, just as many seem to giving up.

With silver’s direct drop lower this week, along with the potential that the GDX may hold its 21 region support, we may be able to maintain a more immediate bullish perspective.  However, I still want to note that it will still take several months until the next break out set up is ready to go.  But, what I am about to present is the best-case scenario we can view on the charts at this time.  And, they need some serious confirmation in the coming weeks.

First, I will go through the more immediate bullish potentials, as presented in silver, GDX and GLD.  Then I will discuss the more bearish potential, and what can trigger that. (more…)

Taxes, Macro Signals, Seasonality, US Stocks and Gold Miners

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While politicians hammer out the details it is generally accepted that corporations and by extension the investor and asset owner classes are targeted for benefits under the coming Republican tax plan. The logical implication of that beneficial treatment is that barring a market meltdown in the interim, people looking to unload stock positions and take profits would tend to wait until January in hopes of gaining the 2018 tax benefit vs. 2017’s tax code.

Among the under performing sectors subject to tax loss selling in late 2017 I have selected the gold miners for this post because they tend to be counter-cyclical and “in the mirror” to the broad risk ‘on’ asset party currently ongoing. We have noted again and again that with the asset party in full swing the miners’ fundamentals cannot possibly look good, and at face value they don’t. Sector fundamentals like gold/oil and gold/materials ratios are not good and macro fundamentals like gold vs. stock markets, the economy (which is relatively strong) and the yield curve are not at all supportive either… as they currently stand. (more…)