Tuesday, December 2, 2014

Just three charts for Tuesday



HYG still looks bad. Then again, any reaction to oil prices shouldd play out over months and not days.




Then again, $VIX calmed down today and punched back through to a downtrend.




US dollar seems to have finally decided to break upward. So probably more pain for PMs on the way.

Those are the only three charts I find interesting right now. Oh, there's also the chart of B2Gold which is bucking the trend and going up very strongly on high volume. But if there's money to be made on B2, it's to be made on a long run upwards and not on some 2 day reaction to a PM puke.

I see Ritholtz is still blathering on about gold, by the way, so that's still about as contrarian bullish as you'll ever find.


2 comments:

  1. So on your prompt i went and searched and found and read the Ritholtz piece.

    All honestly, i didn't find much to argue against in it. The only gripe, and it's minor, is that he chooses to whack on goldbugs when the arguments are equally valid for many other spheres, but even that's forgiveable as he's picking on an easy target for illustrative purposes (or so he sez). He is getting a little tedious with the samo samo piñata, but that's all.

    http://www.bloombergview.com/articles/2014-12-02/the-gold-fairy-tale-fails-again

    ReplyDelete
    Replies
    1. Said goldbugs don't even exist anymore. He's tilting at Zerohedge windmills.

      Delete