Playing the Ponzi's  Instablog

Playing the Ponzi
Send Message
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
My blog:
Playing the Ponzi
  • AAPL Struggling At Resistnace 0 comments
    Dec 5, 2012 10:12 AM | about stocks: AAPL

    AAPL, which bounced off a support trend that has been in place since 2009, has rallied back to the underside of a major trend line resistance. Over the last 20 years, AAPL has formed a rising wedge. The stock broke to the upside of that wedge to start 2012 but has since fallen back within it - bouncing off a support trend line near the mid-point last month.


    A closer look shows that AAPL is currently facing resistance from both the 50 and 200 day Moving Average, along with the upper trend line of that rising wedge.


    It may be time to get on board with Chris Kimble's suggestion that AAPL may be on the wrong side of a very big hill… errr, tower.

    Share this:

    Disclosure: I have no positions in any stocks mentioned, but may initiate a short position in AAPL over the next 72 hours.

    Stocks: AAPL
Back To Playing the Ponzi's Instablog HomePage »

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.

Comments (0)
Track new comments
Be the first to comment
Full index of posts »
Latest Followers


More »

Latest Comments

Instablogs are Seeking Alpha's free blogging platform customized for finance, with instant set up and exposure to millions of readers interested in the financial markets. Publish your own instablog in minutes.