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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
  • DVN Breaking Out? 0 comments
    May 7, 2014 9:31 PM | about stocks: DVN

    Devon (NYSE:DVN) reported good earning and is being rewarded. On the chart, this isn't just any old good day though. It looks like DVN is attempting to break out of a pennant pattern that dates back to 2008. I noted the technical support in a post last year when it was trading around 50, and the upside may prove to be much higher than I originally imagined.

    (click to enlarge)

    The chart I posted last year shows that the support line actually dates back to the early 90's.

    (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: DVN
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