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’s “Bearish Bulls” Addressed, Now What?
[as to the article’s title, I don’t have a firm, paint-by-numbers answer, but I surely do have strategy]
An NFTRH subscriber named Joe, who is a former fund guy and current chart cranking, idea generating maniac (←said with admiration) came up with the term “bearish bulls” recently, by which he meant that a whole lot of people were looking down in the gold sector, especially heading into this week as the dreaded ‘GDXJ rebalance’ and then next week’s FOMC loomed.
On the former, some bounce opportunities were created in oversold companies involved in the rebalance (with bearish bulls’ short covering providing the accelerant) and on the latter, I very much expect the Fed to raise the Funds Rate next week; and so does the futures market. From CME Group…
Gold Miners in 2017 Whipsaw
Ever since 2012’s failure of the ‘QE 3 rally’ in the precious metals it has not been fruitful to micro manage the gold sector, because that failure jump started a savage bear market that would need time to work out the excesses both in the sector’s investor base and in its mining businesses, which had become bloated and inefficient. That’s what bear markets do; they clean out the landscape to make it inhabitable for new investors one day. Here is a weekly chart showing the bear’s kickoff. HUI’s 55 week EMA then became the ball and chain that kept its fate sealed (red arrows) until January of 2016.
Is It A Bull Market Or Bear Market In Metals?
Is It A Bull Market Or Bear Market In Metals?
By Avi Gilburt, ElliottWaveTrader.net
First published on Saturday May 13 for members of ElliottWaveTrader.net: Without fail, each and every time the metals have dropped since bottoming over a year ago, many panic and proclaim the bear market to have returned. Moreover, many have looked to the USD as their guide to what the metals will do, and are completely befuddled when the dollar trades in tandem with the metals, as we have seen for almost two months.
As for me, well, since I was taught at a young age not to “ASSUME,” I only listen to price and try to ignore emotion as much as humanly possible. For this reason, I rely on my analysis to make decisions, as relying upon emotion often puts you on the wrong side of the market at the exact worst time. (more…)
