Metals – Page 223 – Slope of Hope with Tim Knight

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 & US Banks; a Critical Juncture

By NFTRH - 11 years ago (02, Feb 2015 3:17:53 PM)

piggybank It’s all about confidence, right? Right.

In 2011, when the commodity and ‘inflation’ trades blew out, the Federal Reserve was completely discredited, with gold bugs out front poking them in the eye with taunts of “Helicopter Ben”. Markets rebelled against the Fed by sending silver to $50 and commodities in general to an all-time high.

Today, we have come 180° as market participants the world over have been conditioned to revere policy made from on high. Herds being what they are, every utterance from the jawbones of these former buffoons is respected in the form of instantaneous market movement. It’s as if everyone believes the Fed is in total control.

One indicator that this confidence is coming unwound would be a breakdown in the banks. They are right at key… as in critical… as in bull market… support. Not surprisingly, gold has taken on an inverse stance to the Pigs. This should be interesting.

Subscribe to NFTRH Premium for your 25-35 page weekly report, interim updates (including Key ETF charts) and NFTRH+ chart and trade ideas or the free eLetter for an introduction to our work. Or simply keep up to date with plenty of public content at NFTRH.com and Biiwii.com.

Worth a Shot?

By Tim Knight - 11 years ago (28, Jan 2015 10:07:42 AM)

I confess that I am intrigued by DUST, the triple-bearish-on-miners ETF. It is banging against its trendline which, in the past, has been a very reliable bottom. Looking at GDX itself, it doesn’t seem slam-dunk bearish, so I’m actually not going to buy DUST. But I at least wanted to share this chart, since it seems like an interesting speculative play.

Gold Rush or Dump?

By Strawberry Blonde - 11 years ago (28, Jan 2015 8:51:06 AM)

A break & hold below 1270/60 on Gold could send it tumbling (quite hard this time) to 1150 or lower (ultimately 1000).

1314 is the near-term resistance level to overcome before running into major resistance at 1550, in my opinion, (based on my analysis of price, Fibonacci, channel, and volume profile data), as shown on the 5-Year Weekly chart below.

Ashes to Ashes

By Tim Knight - 11 years ago (21, Jan 2015 9:50:14 AM)

The triple-bearish-on-gold-miners ETF, symbol DUST, has a rather interesting property of bouncing hard off the trendline I’ve shown below. If this is true, it would suggest miners are in for some weakness ahead. Don’t get me wrong – – I’m a precious metals booster! – – but I wanted to at least point out this interesting phenomenon.

Bottom Line Thoughts on the Gold Sector

By NFTRH - 11 years ago (20, Jan 2015 2:55:48 PM)

Improving Macro Backdrop

In light of a shifting global macro backdrop that we can finally sink our teeth into with respect to a bullish orientation on the gold stock sector, I thought it might be a good idea to publicly post some bottom line thoughts from this week’s NFTRH report.

The report went into great detail to explain why more fundamentals that matter are starting to come in line, after the chart below refused to make a signal against our big picture view of global economic contraction, which has been the biggest key for the counter-cyclical gold mining sector.

(more…)