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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
  • JC Penney Inverse Head And Shoulders Breakout? 0 comments
    May 16, 2014 10:41 AM | about stocks: JCP

    I posted a bullish note about J.C. Penney (NYSE:JCP) a few days ago on Stocktwits, but forget to put it elsewhere! Drat. Anyway, it's a pretty nice inverse Head-and-Shoulders that would seem to portend the prospect of much greater upside in the longer term, even with today's earnings jump. It's interesting that the after-hours rally hit $10.62, which is awfully close to the that upper line of resistance in the chart below. If we hit that price today, I will sell and look to buy back. Once that trend line is broken, I think JCP can probably run a good bit higher.

    Stocks: JCP
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