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... More
Many economists like to look to Transports for a clue on the health of the broad economy. The Dow Jones Transports ETF (IYT) has rallied up to a clear resistance trend line that has been in place for the last two years. The broader pattern is a pennant, which is pretty neutral. A break higher for IYT would support the idea that markets are ready to rally into year end.
(click to enlarge)
Disclosure: I have no positions in any stocks mentioned, and no plans to initiate any positions within the next 72 hours.
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IYT Faces Resistance Cross-road 0 comments
Many economists like to look to Transports for a clue on the health of the broad economy. The Dow Jones Transports ETF (IYT) has rallied up to a clear resistance trend line that has been in place for the last two years. The broader pattern is a pennant, which is pretty neutral. A break higher for IYT would support the idea that markets are ready to rally into year end.
(click to enlarge)
Disclosure: I have no positions in any stocks mentioned, and no plans to initiate any positions within the next 72 hours.
Instablogs are blogs which are instantly set up and networked within the Seeking Alpha community. Instablog posts are not selected, edited or screened by Seeking Alpha editors, in contrast to contributors' articles.
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StockTalks
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Momo's keep breaking down. Shorted LKND this morning. Add it to CMG and AAPL as momo market leaders continue showing weakness.
Apr 23, 2012
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Shorting CMG here at $423. Now short both CMG and AAPL - playing with "momo" fire.
Apr 20, 2012
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Funny/bizarre that with S&P up .4%, TZA (3x small cap bear) is green and TNA (3x small cap bull) is red.
Dec 23, 2011
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