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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
  • Emerging Markets To Decide Soon 0 comments
    Apr 18, 2012 11:50 AM | about stocks: EEM

    The Emerging Markets ETF (NYSEARCA:EEM) is nearing the end of a pennant pattern that originated a year ago. It has consistently turned back at the falling trendline, but has also formed a shorter term uptrend since bottoming last October. It is sitting close to support now and will likely break out - one direction or the other - very soon. Even if you don't own EEM, it's a good risk gauge and well worth keeping an eye on.

    (click to enlarge)

    As an interesting outlier read on the EEM chart, it's conceivable that there is actually a massive (4 year) Head-and-Shoulders pattern nearing conclusion. I'd be surprised to see that be the case, but it seems to me like a possible read of the chart (if it breaks down from the current pennant).

    Stocks: EEM
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