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Playing the Ponzi
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Why “Playing the Ponzi”? I view the entire monetary and financial system as something of a Ponzi scheme. Starting with currency that is created as debt, and running straight through a global economic model that is based on infinite growth in a finite world. This won’t end well. I’d go a step... More
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Playing the Ponzi
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  • AWK At Multi-Year Support

    One of my favorite investing themes for the coming decades is water. Blue gold, if you will. Water ETF's like PHO, CGW and PIO have basically been shoddy reflections of the S&P that have under-performed the broader markets. American Water Works (NYSE:AWK), on the other hand, has been in a strong and steady uptrend since bottoming in 2009. The stock is now testing that trend line support for the fourth time, and appears to be breaking above resistance that has been in place for the last couple of months.

    (click to enlarge)

    Disclosure: I am long AWK.

    Tags: AWK
    Nov 19 10:26 AM | Link | Comment!
  • AAPL Looks Well-Supported Here

    My favorite technical analyst, Chris Kimble, recently noted that AAPL may be embarking on a long decline from here. I very much agree in the mid/long term, but for the moment I have a pretty bullish take on the chart. The stock currently testing dual support - both a rising trend line that has been test 5 times since 2009 and a price level that held in the steep sell-off from this spring.

    (click to enlarge)

    In today's action, AAPL appeared to put in a sizeable bullish wick, and may actually close green (market is not yet closed as I write).

    (click to enlarge)

    I have long loathed Apple for largely personal reasons (I hate their "closed garden" approach to product development), and have been of the belief that their best days are behind them. It is very hard to manage a company of their size, and even harder to continue growing at the rate the market expects and demands. As a Bear, my ideal set-up would be a rally back to the 330's or so in the first quarter of next year. That would set up a potential right shoulder in a 12 months Head and Shoulders pattern. We shall see how it plays out, but whichever the direction, AAPL is fairly likely to remain a bellwether for the entire market.

    Disclosure: I am long AAPL.

    Tags: AAPL
    Nov 16 3:41 PM | Link | Comment!
  • S&P Seeking Support

    The S&P Futures (charts below are /ES, but closely correlates to SPY) appear to be test a trendline from the 2009 bottom that runs through the panic bottom of last year. It seems like this test is probably pretty important.

    (click to enlarge)

    If we close close to even, it looks the S&P may seems to be putting in a mildly bullish setup for next week.

    (click to enlarge)

    Disclosure: I have no positions in any stocks mentioned, and no plans to initiate any positions within the next 72 hours.

    Tags: SPY, SSO, SDS
    Nov 16 3:26 PM | Link | Comment!
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