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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
  • S&P Testing Support 0 comments
    Apr 11, 2014 1:46 PM | about stocks: SPY, SDS, SSO, SPXU

    Friday's continuation of the recent sell-off has brought the S&P (NYSEARCA:SPY) back to a frequently tested supporting trend line. A significant break here over the next two weeks would be telling in its bearishness, imho.

    Here is the short-term look.

    (click to enlarge)

    Here is the bearish rising wedge that has been building since the 2009 bottom.

    (click to enlarge)

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

    Stocks: SPY, SDS, SSO, SPXU
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