Where’s the Gold?
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.
Big Day for Precious
Just a few charts to highlight the shallow selloff and subsequent strength we’ve witnessed over the past month with respect to precious metals; silver in particular had a banner day on Wednesday:
Celebrate the Bifurcation!
Attentive readers know all too well how obsessed I’ve been with ratio charts this year. The message has been unanimous and strong: bullish precious/bearish equities. I am particularly fixated on the lesser-known palladium, whose long-term value divided by the SPY yields a very bullish-looking base.
Re-Entering Palladium
It is entirely possible I’m doing this too soon, which is why I’m only entering half the position, but I have re-entered my long palladium position. The palladium futures themselves peaked fifteen trading days ago, and in my estimation, $1363 represents an important level of support for the metal. Should this be breached, I’ll take a loss on my long and be out of there like a shot.
Reality is One Thing, Markets Another
Excerpted from the November 2nd edition of Notes From the Rabbit Hole (NFTRH 887):
As noted last week, I am hearing all too much talk about a market crash to feel comfortable in a bearish view beyond the very short-term. Yes, the national debt (along with debts around the globe) is increasing with no end in sight. YouTube’s algo keeps feeding my TV video interviews of deep market thinkers talking about the coming crash. CNN even talked crash with 1929 author Andrew Sorkin. Ooh, scary!
It was October, after all, the most overrated, supposedly bearish month of the year. Well, nothing is foolproof, least of all market seasonals, but we are now in November, the traditional beginning of the supposedly bullish period that ends with “go away in May.”
The October crash talk is a “tell” that a crash is probably not imminent. Here is another. While I take issue with minor elements of CNN’s interpretation of the Fear/Greed index, you just don’t tend to get market crashes from all-time highs with sentiment readings like this. Market crashes tend to occur after enough bearish activity has already happened to drive mass sentiment to fearful.
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