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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
  • FXI Creating Separation In Possible Breakout 0 comments
    Dec 10, 2012 10:18 AM | about stocks: FXI

    FXI has created some separation above the resistance trend line in a 5 year pennant pattern. This would seem to be awfully bullish for FXI, and by extension perhaps the rest of the world (though the terrible performance of China hasn't dragged down world markets over the last 3 years, so maybe its influence is waning). This move to the upside has also been accompanied by a "golden cross." Here is how I see the chart:

    (click to enlarge)

    The one slightly cautionary thing I notice is that moneyflow has been declining over last 6 months as the price rose. This bearish divergence is one cautionary element still in place to this otherwise bullish note.

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

    Stocks: FXI
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