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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
  • SNDXF due for a pullback? 2 comments
    Jul 19, 2011 2:33 PM | about stocks: SAND

    I still very much like the fundamental story in SNDXF, a micro-cap Canadian gold royalty play, run by former SLW CFO, Nolan Watson.  But it has had a blistering last few months.  The chart pattern over the last few days looks a lot like a climactic top to me.  Gap ups the last few days, and likely an "engulfing" bearish candle today (I am writing this pre-close).   While the price and action has been very bullish, ironically, the McClellan oscillator (the bottom graph) is near oversold, so I'm not sure what to make of that, especially given the overtly ebullient price action.  I will likely take profits here with the hopes of getting back in after some consolidation.

     

     

    Stocks: SAND
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Comments (2)
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  • A.Z. Penn
    , contributor
    Comments (22) | Send Message
     
    You nailed this one!
    1 Aug 2011, 04:05 AM Reply Like
  • signkutter
    , contributor
    Comment (1) | Send Message
     
    Darn..wish I had known about this site 1 month ago.
    12 Aug 2011, 12:38 AM Reply Like
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